A little more than a month ago I posted a story on my blog: Tax the Rich. Is it just me or have I stumbled onto something. In that post I made this statement: “To get more revenue the government needs more people to pay taxes which means more people need to be classified as ‘rich.’” Since that post I keep seeing example after example how this is happening all the time. As a result I have decided that I would post examples and just call them part 2, part 3 etc.
In the news recently is the debate going on in California about how to get more money to pay for road repairs. Newer cars get better gas mileage which translates into fewer gallons being purchased. Which according to State Senator Scott Wiener means “less gas means less gas tax, and less money for road repair.” Adding insult to the perceived injury are all these new electric cars that use no gas, but still use the roads.
The current and most favorable proposal is to start taxing divers in California for every mile they drive. The more you drive the more you pay. In other words if you have a car and can afford to put fuel in it and you actually use that fuel you will be considered RICH.
It is certainly open hunting season for more sources of taxes.
4 questions to consider:
- When states and municipalities need more money what will probably be the result? Lower benefit or higher taxes or both?
- Who will be the next to defined as “rich?” Because you know we need to tax the rich.
- Similar to #2, but who will be paring the new taxes? Those who have money or those who do not?
- Do you want to pay these new sources of taxes or do you want to avoid them as much as possible?