Do the rich need more tax cuts?

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Conservatives keep telling us that taxes on the rich are too high, and that's the main reason 'job creators' have failed to fulfill the promises made by George Bush and every Republican currently running for president.

Don't you feel sorry for this rich woman?


"This is the grand hall," she says, opening her arms to a space the size of a concert hall and surrounded by balconies. "It will fit 500 people comfortably, probably more. The problem with our place now is that when we have parties with, like, 400 people, it gets too crowded."

The Siegels' dream home, called "Versailles," after its French inspiration, is still a work in progress. Its steel-and-wood frame rises from the tropical suburbs of Orlando, Fla., like a skeleton from the Jurassic age of real estate.

Ms. Siegel shows off the future bowling alley, indoor relaxing pools, five kitchens, 23 bathrooms, 13 bedrooms, two elevators, two movie theaters (one for kids and one for adults, each modeled after a French opera theater), 20-car garage and wine cellar built for 20,000 bottles.

At 90,000 square feet, the Siegels' Versailles is believed to be the largest private home in America. (The Vanderbilt family's Biltmore house in North Carolina is bigger at 135,000 square feet, but it's now a hotel and tourist attraction).

The Siegels' home is so big that they bought 10 Segways to get around—one for each of their eight children.


After touring the house, Ms. Siegel walks out to the deck, with its Olympic-size pool, future rock grotto, three hot tubs and 80-foot waterfall overlooking Lake Butler.

Her eyes well up with tears.

The Siegels will make do in their current 26,000-square-foot mansion.



http://online.wsj.com/article/SB10001424052970204346104576638981631627402.html?mod=googlenews_wsj


Obviously, the wealthy need another bailout and even lower taxes so they can 'create' jobs.
 
I agree with most dem policies. Just not your crying and obamas attacking all industries.
I can't smoke now till I retire.
 
What if the trouble with inequality isn’t unfairness or envy — it’s the way it dampens job growth?


The idea is not limited to the protesters at Woodruff Park or Wall Street.


Federal Reserve Governor Sarah Bloom Raskin, for example, said in a recent speech that inequality has a host of negative side-effects — from household finances to higher crime.


“This inequality is destabilizing and undermines the ability of the economy to grow sustainably and efficiently,” she told a forum sponsored by the liberal New America Foundation. “All of these forces drag down maximum economic growth.”



http://www.ajc.com/business/wealth-divide-might-stifle-1208113.html
 
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