Thursday, December 13, 2012

Taxing Rich Liberals

Ann Coulter has some ideas on tax increases for wealthy people that would be less unacceptable to conservatives and libertarians than general income tax rate increases.

One is to abolish the deduction for state and local taxes. That would hit high income earners in the states where most rich liberals live, like California, New York and New Jersey

A tax that would be even more accurate in hitting rich liberals would be an excise tax on the entertainment industry. The big Hollywood stars are all really rich, often earning tens of millions of dollars per year, and with only a few rare exceptions, like Clint Eastwood, Arnold Schwarzenegger and Bruce Willis (and as my three examples illustrate, most of these exceptions are aging "has-beens" who aren't likely to do many more movies anyway) they are all liberals who advocate higher taxes. So why not let them pay higher taxes with an excise tax on the entertainment industry?

It's not like it would be unprecedented with excise taxes on specific industries as such already exist for alcohol, tobacco, gasoline and (because of Obamacare) tanning salons. And since the people in the entertainment industry supports politicians who says America needs higher taxes on rich people and since this would accomplish this, why shouldn't this be done?