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Adelia Ritchie's avatar

I remember from childhood a TV series called “The Millionaire,” where this guy would select a deserving recipient, someone who had a lesson to learn, and give them one million dollars… often with strings attached. One string I recall was “You have to spend it all in one day.” Back then, that was nearly impossible. Anyway, also back then, the income tax on a million dollars was $900,000, which left the receiver a whopping $100,000 to keep. Imagine! 100K was an enormous amount, when working folk earned way less than 10K/year. Somewhere along the way, the wealthy bribed their way into gummint control and got their tax burden reduced to essentially zero, leaving the low-earning taxpayers to support everything: infrastructure, moon shots, defense, social services… etc., while the fat cats continued to rape the country and consume caviar. WTF is wrong with this picture?

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