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Billionaire wants to soak the poor

Taxes are good for the poor, Michael Bloomberg said.

Americans for Tax Reform found a video of Bloomberg advocating raising taxes on the poor in an April 2018 interview by Christine Lagarde when she was in charge of the International Monetary Fund. She is now president of the European Central Bank.

Bloomberg said, "Some people say, well, taxes are regressive. But in this case, yes they are. That's the good thing about them because the problem is in people that don't have a lot of money. And so, higher taxes should have a bigger impact on their behavior and how they deal with themselves. So, I listen to people saying 'oh we don't want to tax the poor.’ Well, we want the poor to live longer so that they can get an education and enjoy life. And that's why you do want to do exactly what a lot of people say you don't want to do."

Yes live longer so you can generate more taxes for the state.

He also said, "The question is do you want to pander to those people? Or do you want to get them to live longer? There's just no question. If you raise taxes on full sugary drinks, for example, they will drink less and there's just no question that full sugar drinks are one of the major contributors to obesity and obesity is one of the major contributors to heart disease and cancer and a variety of other things.

"So, it's like saying, ‘I don't want to stop using coal because coal miners will go out of work, will lose their jobs.’ We have a lot of soldiers in the United States in the US Army, but we don't want to go start a war just to give them something to do and that's exactly what you're saying when you say 'well, let's keep coal killing people because we don't want coal miners to lose their jobs.' The truth of the matter is that there aren't very many coal miners left anyways and we can find other things for them to do. But the comparison is: a life or a job. Or, taxes or life? Which do you want to do? Take your poison."

Why don't we just take all his money and find him other things to do. He can learn to code.

It is refreshing to read this. For years the poor have said tax the billionaires. Now one of them wants to tax them.

Taxing people to get them to avoid bad behavior runs counter to the argument to legalize such vices as smoking of marijuana and gambling. If we wanted to stop the smoking of cigarettes, we would ban tobacco and shut down the tobacco companies. Instead, the government takes a piece of the action. Taxes are now 8 times higher than the profits on tobacco.

But Bloomberg knows the truth. We tax behavior. Cigarette taxes discourage smoking. Alcohol taxes discourage drinking. Income taxes discourage work.

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