Video: Why can’t we balance the budget by confiscating super-rich people’s money?

posted at 8:56 pm on March 11, 2011 by Allahpundit

Answer: Because, contrary to what certain class-warrior millionaires would have you believe, not only is America broke, we’re so broke that expropriating the personal wealth of the entire Forbes 400 wouldn’t get us out of the hole this year. Although, in light of fantastically depressing polls like this, I’m not sure if Moore is outright dissembling or merely confused about the extent of the problem. In a country where more people think large savings are to be had by cutting foreign aid than by reducing Medicare benefits, is it really surprising that this tool thinks Bill Gates, Warren Buffett, and a few hundred other people could singlehandedly cure our broke-ness?

Note the reference in the clip too to “400 little Mubaraks.” In a world of cheap demagogues, few come cheaper than this.

One question, though: When he says America isn’t broke, are we sure he’s referring to the budget? My sense of this guy isn’t that he wants to rob the rich blind to eliminate annual deficits and pay down the debt, it’s that he wants wealth transfer in its rawest form — literally confiscating bank accounts (or taxing them into oblivion) and carving up the principal for distribution to people below a certain income level. Not only would all of the entitlements that are destined to cripple the federal government sooner or later stay in place, but in Mooreworld, they’d probably be expanded. Yet somehow, in some way, that $1.3 trillion wealth transfer from Larry Ellison et al. to the poor that he has in mind would solve everything. What a magical elixir socialism is.


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MKH… yummy!! Thank you, God! (Animal House)

Khun Joe on March 11, 2011 at 8:59 PM

MK is so much smarter than Juan Williams.

ctmom on March 11, 2011 at 8:59 PM

More Ham? Yes please!

carbon_footprint on March 11, 2011 at 9:00 PM

Because it’s wrong, illegal, immoral, and probably fattening.

massrighty on March 11, 2011 at 9:00 PM

Its delicious to see Progressive multi-millionaires go after Progressive multi-billionaires!

Its a fat cat eat fat cat world out there…

ajacksonian on March 11, 2011 at 9:01 PM

Robin Hood could run circles around Moore though it would be exhausting.

Electrongod on March 11, 2011 at 9:01 PM

If sunk a well in to Micheal Moore’s butt and hooked a wind turbine up to his mouth, we could power a couple of states with that…

Wolftech on March 11, 2011 at 9:03 PM

Not to mention – that these people would give Soetoro the finger, then move to Belize or somewhere out of the reach of frothing fascist thieves.

Rebar on March 11, 2011 at 9:09 PM

Wolftech on March 11, 2011 at 9:03 PM

I believe those were two of the extra 7 States Obama visited… Delusion and Idiocy.

ajacksonian on March 11, 2011 at 9:10 PM

I usually ignore MKH links because the comments from her stalkers…errr…fans make me uncomfortable but I had to check this one out. It was really good! Must share with my friends.

tlynch001 on March 11, 2011 at 9:10 PM

And in one fell swoop, so goes one of the most integral peices of our founding as a country and constitution.

Koa on March 11, 2011 at 9:10 PM

What an idiot. I think it was Margaret Thatcher who said that the problem with socialism is that eventually you run out of other people’s money.

And I do think that if we start taking money away from people…Michael Moore should be the first guy who gets to donate everything to the American people.

Terrye on March 11, 2011 at 9:13 PM

I love this idiot actually spouting his insanity, I think people who have not paid attention are geting a good dose of what the hard left actually believe. How people have not paid attention actually bothers me more!

bluemarlin on March 11, 2011 at 9:14 PM

Why is this man listened to? He’s from a different planet.

mixplix on March 11, 2011 at 9:16 PM

The problem is that the left won’t believe the U.S. is broke until tax rates are at their 90 percent-plus levels of World War II.

And even if they did that, and it still didn’t solve the financial shortfall, their answer wouldn’t be that their policies and economic theories are wrong — it would be that the super-rich and the big corporations are obviously hiding their money elsewhere, which would then justify federal investigations of the finances of the targeted rich plus nationalization of America’s major/non-Demcratic leaning corporations and/or industries (i.e. the feds take over the oil industry or the pharmaceutical industry, but Jeff Immelt’s General Electric continues to roam free, as long as the proper payments are made to the proper people).

jon1979 on March 11, 2011 at 9:16 PM

Luvz me some MKH!

bernzright777 on March 11, 2011 at 9:20 PM

The Socialists apparently have already run out of Other People’s Money and just don’t know it.

Dandapani on March 11, 2011 at 9:25 PM

He’d gain a tiny bit of credibility if he’d hand over his voluntarily before
calling to have that of every one else confiscated.

The Party operatives always have the best dachas. Power to the people, my a$$.

obladioblada on March 11, 2011 at 9:25 PM

The Big problem is that once you start down the road of confiscating wealth, were does it stop?

Is there some magical difference between someone that makes $200,000/year and someone that makes $199,000/year?

What about $100,000/year and $99,000/year?

Where does it stop?

Chip on March 11, 2011 at 9:26 PM

The left will never be able to accept anything so simple and logical.

trigon on March 11, 2011 at 9:27 PM

[[[ swoon ]]]

OhioCoastie on March 11, 2011 at 9:28 PM

Those that are listening to him are those that successfully elected their candidate as POTUS. The losers that expect it to be handed to them from the sky (government) are the ones.

ericdijon on March 11, 2011 at 9:28 PM

OK, so Mike can’t do simple addition and subtraction. (Did he go to school in WI?) Regardless of the fact that his figures don’t add up, we should take all the billionaires assets out of “fairness”.

JimP on March 11, 2011 at 9:28 PM

I’m calling on Zsa Zsa Huffington, Michael Moore, Soros, Bill Ayers, and Barack Obama to be the first to forfeit their wealth for the good of the country…

MeatHeadinCA on March 11, 2011 at 9:28 PM

Why is this man listened to? He’s from a different planet.

mixplix on March 11, 2011 at 9:16 PM

So are his listeners … and their Queen.

MeatHeadinCA on March 11, 2011 at 9:30 PM

Trolls where are you? Fins?

CWforFreedom on March 11, 2011 at 9:30 PM

Back in the 50′s and 60′s a lot of celebrities from Italy and Sweden suddenly appeared in America…bought huge homes, moved their careers here. Wasn’t that they were taken with everything American, but they were being pragmatic as both nations and a few others (like UK in the 70′s) made it tough for anyone earning anything above what the government decided was a “fair wage.”

If the US ever gets itself all wrapped up in the idea that we can raise taxes on the so-called super rich or confiscate the earnings of the “rich,” be prepared for a mass migration to better places….and then what will “government” do? No more gravy train to siphon from to pay for all those on the government teat…we’ll look like a Third World nation within a few years.

And those who were the targets of the confiscation? Living well in Costa Rica, or Australia, or any other place where good earnings and wealth are permitted, even encouraged.

Is this what the progressives really want? Turn America into another Zimbabwe?

From what has been said by the Left and Progressives in general in Madison lately…seems so. Let’s make everyone poor so we can all be “equal.”

So, Fat Mike…let’s have you start the ball rolling by turning over everything you own…all cash, all assets, all stocks and bonds and investments, all of it…to the government to distribute as they see fit…

Well?

coldwarrior on March 11, 2011 at 9:31 PM

Why can’t we balance the budget by confiscating super-rich people’s money?


Why not? It worked well for the Romans. /s

Demosthenes on March 11, 2011 at 9:36 PM

Progressives never think beyond the last dumb thought.

And after everyone has been given their big fat check….

…..

…..then what….

katy on March 11, 2011 at 9:38 PM

MKH could give us the worst news ever, and we’d think it was heaven.

KillerKane on March 11, 2011 at 9:43 PM

What if we confiscate all of their net worth multiple times?/

CWforFreedom on March 11, 2011 at 9:49 PM

MaryKat is smart AND purrrrrrty.

Nummy.

IronDioPriest on March 11, 2011 at 9:50 PM

Progressives never think beyond the last dumb thought.

katy on March 11, 2011 at 9:38 PM

I want that on my bumper.

Saltysam on March 11, 2011 at 9:58 PM

The failed theory of progressivism has come back from the 1920′s like a zombie risen from the dead in a Grade-B movie. The liberals don’t formulate new theories, just recycle old ones.

slickwillie2001 on March 11, 2011 at 10:06 PM

The liberals don’t formulate new theories, just recycle old ones.

slickwillie2001 on March 11, 2011 at 10:06 PM

Regressive progressivism.

Saltysam on March 11, 2011 at 10:10 PM

Regressive progressivism.

Saltysam on March 11, 2011 at 10:10 PM

Passive-Aggressive Regressive Progressivism.

coldwarrior on March 11, 2011 at 10:12 PM

Robin Hood could run circles around Moore though it would be exhausting.

Electrongod on March 11, 2011 at 9:01 PM

Moore is no better than the corrupt sherrifs and bishops and petty nobility of RH’s time, many of whom were also tubs-o-lard. It was a pleasant way of showing off as many people were half-starved all the time.

Robin Hood would turn Mikey into one giant bruise and send him home wearing nothing but a barrel!

Dark-Star on March 11, 2011 at 10:19 PM

Confiscate the money of those rich people who say to confiscate the money of rich people

Moore first.

profitsbeard on March 11, 2011 at 10:23 PM

Confiscate university endowments first. They have BILLIONS.

Greek Fire on March 11, 2011 at 10:31 PM

Loves me some MKH!!!

Tim Zank on March 11, 2011 at 10:34 PM

One problem with this idea is that rich people don’t have much money. If anyone makes a knee-jerk, stupid reply, I will flay him.

Kralizec on March 11, 2011 at 10:34 PM

Confiscate university endowments first. They have BILLIONS.

Greek Fire on March 11, 2011 at 10:31 PM

Harvard alone has 26 Billion.

Rebar on March 11, 2011 at 11:19 PM

Harvard alone has 26 Billion.

Rebar on March 11, 2011 at 11:19 PM

Great, that’ll cover 3 days of February’s deficit!

PatMac on March 11, 2011 at 11:36 PM

Wrong answer… McDuck doesn’t keep his money in a large vault that he swims in when he comes home from work…

The correct answer is the wealthy in this nation have their wealth invested in promoting more prosperous private sector activities. If you take away the collateral that supports private sector prosperity and give it to government, what do you get? Less prosperity, more people out of work, fewer tax dollars being raised, more wealth and private sector know-how fleeing the nation, … In short, you’d quickly end up with a total national disaster…

drfredc on March 11, 2011 at 11:52 PM

I love it when she kills us with kindness. Such a sweet girl.

Mary Katharine Ham rocks.

Subsunk

Subsunk on March 11, 2011 at 11:57 PM

Nice to see MKH making videos again. “Obama on Your Shoulder” will always be a classic.

Because it’s wrong, illegal, immoral, and probably fattening.

massrighty on March 11, 2011 at 9:00 PM

Michael Moore is all of the above (with the exception of “probably”).

Bigfoot on March 12, 2011 at 12:05 AM

Progressivism was forgivable the first time through, but now it is just moronic.

Slowburn on March 12, 2011 at 12:12 AM

I have noticed a huge shift in how the pigs talk now.
They are not even trying to hide the fact that they are commies.

esnap on March 12, 2011 at 12:41 AM

I have noticed a huge shift in how the pigs talk now.
They are not even trying to hide the fact that they are commies.

esnap on March 12, 2011 at 12:41 AM

Yeah, I’ve noticed that…now if only The One would admit it…

———–

Was talking to a co-worker a year ago about taxes. Told him I’m in favor of a Fair Tax and that I don’t believe in luxury taxes. He used the example of a millionaire buying a yacht-he said they should have to pay a higher tax for such an item.

I guess my wiring just can’t see the logic in that.

If the millionaire paid the same percentage as for, say, a pair of socks, then wouldn’t he have more money to spend on something else, thus helping another company, and thus helping to employee people, thus helping them to pay (reasonable) taxes for (reasonable) government services or to invest money so companies can expand and hire people and…?

Or am I just way out there on this one?

Dr. ZhivBlago on March 12, 2011 at 12:53 AM

Bankrupt idealists don’t need new ideas, just a constant stream of fools who confuse feeling morally superior for intelligence, confuse ego for brains.

People who mature normally give up blaming their problems on others and whining about unfairness – when, 2nd or 3rd grade?

jodetoad on March 12, 2011 at 12:54 AM

I hate to be the turd in the punchbowl but I must point out that Bernake is in the process of taking wealth from all of us in the form of quantitative easing.

Its perhaps the most egalitarian way but lets get real, a billion ain’t what it used to be.

Lonetown on March 12, 2011 at 5:48 AM

it’s that he wants wealth transfer in its rawest form — literally confiscating bank accounts (or taxing them into oblivion) and carving up the principal for distribution to people below a certain income level

A point to ponder,if all the wealth in the US was equally divided among the entire population (which is the Utopian ideal for these cranks)what happens to the value of that wealth?

oldernwiser on March 12, 2011 at 6:33 AM

What economic school did Fatty Arbuckle attend? Ooooo. I apologize to the real Fatty. He actually had talent…

adamsmith on March 12, 2011 at 6:56 AM

She’s a peach, that Mary K. Hamm.

Naturally Curly on March 12, 2011 at 8:11 AM

Doesn’t Moore understand that there if they took the rich’s money, there would be no one to bankroll his stupid movies? Guess not. Not to worry tho, they’re coming for our 401ks, IRAs and pass book saving. That would cover a couple of years.

Kissmygrits on March 12, 2011 at 8:33 AM

***

Or am I just way out there on this one?

Dr. ZhivBlago on March 12, 2011 at 12:53 AM

Ask your friend to research the “success” of the federal tax on luxury items in the early 1990s–I think it was the 1990 tax act. The act imposed a federal excise (sales) tax on autos over a certain value, jewelry (I think), yachts, and other items. I’m pretty sure that it was eventually repealed, but before it was repealed, it destroyed the NE yacht-building industry. Yacht purchasers said screw it and purchased them from foreign manufacturers.

BuckeyeSam on March 12, 2011 at 9:17 AM

Just watched this last night for the first time. Really great video!

JellyToast on March 12, 2011 at 9:36 AM

There’s a certain mindset that believes that money is the solution to the poors’ ills. History has shown this not to be the case over and over, but it is a seductive idea. It’s the idea of the seen and the unseen. The seen is that the poor have a few more bucks. The unseen is that the creative, smart, and bold (notice I didn’t say rich) create less and hire less to support those ventures. It’s very much a net negative – of course making the poor poorer in the long term.

There’s another idea that our cumulative wealth doesn’t belong to the people who created it. They didn’t create it – they stole it from the people – due to power, or privilege, or position – anything but skill, vision, dedication, sacrifice, hard work, or heaven forbid – just the simple law of compound interest. And, this wealth belongs to them. Of course, this is also fantasy. Also, hugely disrespectful and willfully blind.

There seems two exceptions to this – entertainers and athletes. Probably partly because they’re liberal, but mostly, I believe, because there’s no connection to the development of skill. So, he can hit a ball 500 ft. Who cares if he’s paid $10million? So, she’s pretty? Just got lucky. Nothing off me.

I think the deep dark secret is that successful entrepreneurs and executives can make people feel small – and people don’t like to feel small.

Pablo Snooze on March 12, 2011 at 10:12 AM

The Big problem is that once you start down the road of confiscating wealth, were does it stop?

Chip on March 11, 2011 at 9:26 PM

See Russia, 1917 -, China, 1948 -, w/ big uptick in 1966…..

roy_batty on March 12, 2011 at 10:47 AM

Is it just me, or does Michael Moore look like he should have Princess Leia on a leash?

Squiggy on March 12, 2011 at 10:53 AM

Yacht purchasers said screw it and purchased them from foreign manufacturers.

BuckeyeSam on March 12, 2011 at 9:17 AM

Which is the crux right there, models that show this kind of taxation as successful are static. They assume that those taxed won’t find a way around it dynamically. The fallout is always on those without the means to avoid it.

roy_batty on March 12, 2011 at 10:54 AM

Is it just me, or does Michael Moore look like he should have Princess Leia on a leash?

Squiggy on March 12, 2011 at 10:53 AM

No, it isn’t just you.

roy_batty on March 12, 2011 at 10:54 AM

She’s kinda cute.

Kevin M on March 12, 2011 at 11:08 AM

adamsmith on March 12, 2011 at 6:56 AM

Not to mention that Arbuckle was innocent in a way Moore never can be.

unclesmrgol on March 12, 2011 at 11:21 AM

I’m not sure if Moore is outright dissembling or merely confused about the extent of the problem.

In any set of options about Michael Moore, “He’s a liar” is always the best and safest choice.

Akzed on March 12, 2011 at 11:28 AM

What if we confiscate all of their net worth multiple times?/ CWforFreedom on March 11, 2011 at 9:49 PM

That’s the time-honored progressive theory of deficit confiscation, is all.

Akzed on March 12, 2011 at 11:31 AM

What if we confiscate all of their net worth multiple times?/
CWforFreedom on March 11, 2011 at 9:49 PM

That’s the time-honored progressive theory of deficit confiscation, is all.

Akzed on March 12, 2011 at 11:31 AM

That sounds like Kathleen Sebelius-style accounting.

slickwillie2001 on March 12, 2011 at 1:05 PM

Was talking to a co-worker a year ago about taxes. Told him I’m in favor of a Fair Tax and that I don’t believe in luxury taxes. He used the example of a millionaire buying a yacht-he said they should have to pay a higher tax for such an item.

That’s been tried. Some years ago there was a luxury tax which specifically listed yachts, among other things. The yacht industry almost died. When you think about the suppliers and secondary industries … I guess they could all get jobs at Starbucks or something, so that’s ok.

YehuditTX on March 12, 2011 at 3:42 PM

Sorry, should have read the whole thread, the yacht industry story was covered above in more detail.

YehuditTX on March 12, 2011 at 3:44 PM

How about just charging Michael Moore $4 Billion per pound for excess wear and tear on America’s sidewalks, highways, eardrums, food distribution facilities, and seating?

That ought to eliminate this years’ deficit!

landlines on March 12, 2011 at 4:09 PM

Way to go Mary Kathrine. Facts are facts and the Truth is the Truth, but Michael Moore does not understand the truth and does not know a fact if it hit him in his rotunda.

MSGTAS on March 13, 2011 at 10:49 AM

Nationalizing all private funds. And that would solve the uncertainty crisis and create new jobs how?

flataffect on March 13, 2011 at 6:28 PM