Bloomberg: Raising Taxes on the Poor, a ‘Good Thing’ (VIDEO)

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Billionaire and former New York City Mayor Michael Bloomberg claimed that raising taxes on low-income individuals is actually beneficial for them.

Speaking on a discussion panel for The International Monetary Fund with IMF Chief Chrisine Lagarde, Bloomberg said a regressive tax — which takes a larger percentage of income from low-income earners than from high-income earners — is a “good thing” for the poor.

“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,” the former mayor said.

“I listen to people saying, ‘We don’t want to tax the poor.’ Well we want the poor to live longer, so they can get an education and enjoy life. That’s why you do want to do exactly what a lot of people say you don’t want to do,” he continued. – READ MORE

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