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Tom Toles
Posted at 05:15 AM ET, 01/18/2012

This view downward is frightening

The possibility is now facing DOZENS of ultra-wealthy Americans of falling into the middle class. This circumstance, which seemed unthinkable just a few short years ago, not only haunts their investing lives, but also their hopes for their children to avoid the inconceivable trap of middle class status.

What had seemed an American birthright until recently, of permanent unlimited personal wealth taxed at a level lower than their secretaries and gardener’s and nannies and drivers, suddenly appears just one tax-hike away from vanishing forever, leaving them to face the all-too-real prospect of living in a community that can’t even afford GATES. The horrifying sensation that the marble floor could collapse from under their very feet, and along with it their sense of who they even are.

And so, in terror and gritty desperation, they live one dividend statement to the next, wondering if those seven or eight zeroes could possibly become six as they look up and see the three-story columned atrium start to spin. And they wonder, will ANY politician even UNDERSTAND, let alone respond to their plight? Answer: well, yes!

By  |  05:15 AM ET, 01/18/2012

 
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