Steve Forbes, pinko liberal commie

By Felix Salmon
April 2, 2009

Steve Forbes is no fan of progressive taxation — the idea that in a community where all contribute to the commonweal, the better-off should sacrifice more of their income than the poorer folks. Indeed, he published an entire book, entitled Flat Tax Revolution, to the proposition that any burden placed upon the well-to-do should be shared equally by all.

And yet here’s the latest announcement from his eponymous magazine, Forbes:

Other measures to be taken include: suspending 401K matching contribution; salary reductions for anyone making over $100,000, amounting to 10% of the increment over $100,000. Also, employees will have a week long furlough with no pay.

This is taxing the rich! It’s class warfare! Why should those employees earning a six-figure salary be singled out for pay cuts? If you cut their pay, don’t you know that you’re going to reduce their incentive to work hard, and also the incentive for lower-earning employees to aspire to their position? And these are the most productive members of the firm! You’re punishing success! You should be giving the higher-paid employees a pay rise, instead — that will surely boost corporate revenues!

Come on Steve, walk the walk. If the rich can’t be treated equally with the poorer at Forbes, where is the hope for them in this world?

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