Redistributing the Goods

Obama's desire to raise the tax on the upper 5% and to not on the lower 95% comes from a weird perspective on wealth. From some inner part of human beings, there is this assumption that the rich should not be so rich. We say, "What can they really do with $40 million a year? Some of that should go to people who are far less fortunate. We need to close the gap between the rich and poor." To borrow from Bastiat's illustration of what is seen and what is unseen fits well with this mistaken philosophy.
What is seen: government getting more funds to expand or better fund programs like welfare, Medicaid and Medicare, public education, etc. Right on!
What is unseen: where would that money have gone instead of to the government? Probably more investments, business ventures, or spent on some good. Jobs are required to supply a greater demand. Wealth is spread apart from government coercion in a much more efficient manner.
How efficient is our welfare program? LBJ tried that Great Society thing in the 60s, lowered poverty a little, but every since, despite the increased funding, the poverty level has remained the same. Education is no different. Twice as much is spent now per pupil compared to the 1970s and performance has barely risen in the last 30 years. If government were a non-profit organization, we'd stop giving to it because of its poor stewardship.
I am not saying the rich should not be taxed. They should and so should everyone else. But it must be kept within reason. There is a point of taxation, that when passed, revenue ceases. Check out the Laffer Curve. The t variable is movable, but usually below the 50% mark.
(I remember when I first encountered the Laffer Curve in Dr. Victor Claar's book on economics. It was a beautitful moment. Love at first sight).
When taxation is unreasonable, people and businesses leave. California is an example. There has been a migration out of the state the last few years, due in part to the 10.3% personal income tax, a 8.9% corporate tax rate, and a rising minimum wage. There's a gnarly deficit going on in CA now. I do not know where the disconnect between the fact that tax rate increases are directly corrolated to the outward migration of the very people who pay them. If no one is left to pay, you can raise the rate all you want but your revenue will continually decrease. It's been shown to happen and is happening.
Had to get that out there.
Think before voting for more programs which would raise taxes. Think before voting for politicians who under the guise of goodness, may end up doing more harm than good and in the course of it all, infringing upon liberty and property.