Friday, August 12, 2011
Is this a good time to increase taxes on the rich?
A tax is an investment by the "rich" in the economy. It's actually an investment by all of us into our economy, which would easily fail without it, leaving everyone poor. In fact, it's a direct investment. I'm not going to bash you, but I'll certainly let you know the facts, like that the "rich" have been investing in companies a long time now, and that while that boosts economies in good economic times, it does very little in a failing economy, where everyone's trying to sell, and buying prices are extremely low. Besides that, we're talking about a taxation rate increase on these people by only 3%. This isn't the Eisenhower (a Republican) administration, where the tax on the "rich" was up above 90%. Taxes for them will be, at most, around 40%. I don't think that will hurt their pocketbooks too much. If they wanted to invest before the increase, they still will after.
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