The rich are getting poorer with these stock market declines. I'm sure you're happy about that. The problem is that all of the government pension plans are taking a hit and capital gains taxes will decline. Do you think we need another rate hike on the rich to recover the pension and tax revenue loss?
The rich take a big hit - good!
The average guy takes a hit in his 401K and other savings - too bad but such is life.
Government pensions take a hit - Unacceptable! Tax the billionaires (> $200k) to replenish the pensions and the lost tax revenues from capital gains. After all, the rich have to keep paying even if they're losing, right?
