Barney Frank: Plenty of rich people that we can tax

Here is a really interesting interview of Barney Frank by CNBC's Maria Bartiromo. Thanks to her control of the interview by stopping Mr. Frank from chatting on about his influence on John McCain, it is only 52 seconds long. It is very revealing of Mr. Frank's attitudes on taxes, the rich and the role of government.

I was so impressed I had an epiphany moment. I realized there was a whole class of people who could be made super rich by legislative fiat, one of Mr. Frank's favorite pastimes. Let's declare all political campaign contributions as taxable income to the end user, politicians such as Mr. Frank. The politicians usually do whatever whim and fancy hits them regardless of how it affects major contributors. Remember the tobacco settlement back in Bill Clinton's presidency. The tobacco companies contributed $millions if not $billions and they still got screwed - whoops, make that sued by the US Government. Part of the settlement required smoking cessation programs support and severe curtailment of advertising. To make matters worse if these draconian measures did not produce a certain level of smoking cessation after a few years, more penalties would be applied!!!

Just think, several hundred new millionaires all conveniently working within the DC beltway. That is my idea of change for the better. Since our politicians seem so obsessed with controlling executive compensation in the private sector, what better way to lead than by such a courageous example. However, I believe this bill is ever proposed would generate an unprecedented amount of bipartisan opposition.

Still, It is a great idea, maybe it will inspire other great ideas that stand a snowball's chance in Heck of becoming the law of the land.