Nothing. It’s just that talk head demagogues like Sean Hannity and Rush Limbaugh continue to convince some people that they should vote against their economic interests based on riches that only exist in their head; just like joe the plumber. Obama’s tax policy benefits Joe because he doesn’t make that much money; joe’s assuming he’s going to be making enough money to be effected by Obama’s tax policy. This man is literally voting off a fantasy instead of reality which is why america’s in the shape its in.

As long as it isn’t MY wealth…no problem.

Most of the current tax revenues do come from the rich. If you take money from people who earn it, save it, spend it, and/or invest it and give it to the government and someone who didn’t earn it it’s unwise use of capital. No wealth is created that way and investment, research, and employment are stifled.

NOTE TO KEVIN: I’ll be happy to work making, distributing, or selling top hats and caviar to those rich folks. Or the gov’t can take their money, keep most of it, and give the rest to people who don’t do anything to earn it. But the gov’t won’t be able to take and spend enough to make up for the lost jobs and inflation they will cause by raising taxes.

When the government transfers wealth from the poor to the rich. Then this is bad because it’s unfair.

The recent bailout of banks with taxpayer money does benefit a lot of multi-millionaires at the expense of ordinary taxpayers. And perhaps it’s good politics to criticize something like this.

A simple example that has been passed around is this: You are a student, and after working very hard on a term paper you get an A+. One of the other students that copied his from a friend only gets a D, “I guess he was no smarter than his friend”, anyhow the teacher likes that student, knows he’s not very bright and so he says to you, since got an A+ I am going to divide your grade with our D student to bring up his average. How would you feel if you were that A student? And what gives the teacher the right to take away from the grade that you worked so hard to get?

It simply decreases the incentive to create more wealth. If you’re fine with growing our economy less rapidly, go ahead. After all, if we decrease the rate of annual growth by 1%, in 72 years standards of living will only be half of what they otherwise would be. Your children can live with that.