When You Raise Taxes on the Rich, Everyone Pays
From the Townhall blog:
Here’s what the President hopes nobody realizes: Raising taxes has consequences for everyone – and most of them are bad.
Yet another example: If the Obama tax plan goes through, Microsoft intends to move some of its jobs out of this country.
Yesterday, I wrote about the ugly unintended consequences for regular Americans of the liberal love affair with “taxing the rich.”
Today, Microsoft has offered us a lesson on what it means for regular Americans when liberals try to “tax corporations.”Whether or not they know it, when the government raises taxes “just” on “corporations” or “the rich,” everyone ends up paying. Everyone.
(HT: JT)
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About Matt Perman
Follower of Christ. Husband of one, father of three. Director of strategy at Desiring God. This blog exists to help equip Christians in good works, because that's what productivity is really about.
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The rich can afford to pay taxes, in that they have money. They are rich! The poor are poor because they do not have money. Why should those with the least money pay all the taxes when money is already tight?
For years Conservative America has believed in the bottom up approach to taxing citizens. Thinking that giving the wealthy and big business breaks that the wealth would trickle down. I don’t know how close to the bottom you are standing right now, but I have yet to see any of this wealth. Nobody has, it is this way of doing business that has put us in our current recession.
True our tax structure is screwed up from decades of lobbying and bipartisan bickering. The whole thing needs to be scrapped and redone, but by taxing the rich and not the poor, you allow the poor some room to breath. When they have room to breath and are able to pay their bills you have less people on welfare, less bankruptcy and more spending. When everybody can spend, even the poorest citizens, there is demand for more products made by the rich. As more poor people buy the rich get richer. Because they are making more money still they can afford to pay the higher taxes and they don’t have to worry about who they have to pay or if they can pay them because they are rich.
Doing away with ridiculous tax code that pay businesses to send work over seas, would create jobs for the unemployed. Less money the government has to pay out. By not taxing every stage of the manufacturing process. Companies like General Motors, Chrysler, and Ford would be more competitive with those foreign owned companies.
Hmmm, so many misconceptions coming from the previous comment. The poor are not paying federal taxes, so taxing the rich will have no effect on what the poor are currently paying in taxes.
When it was pointed out to Obama that Federal tax revenue is actually higher when the rich are taxed less, Obama said it’s not about the revenue, it’s about “fairness”. This is what is so dangerous about heading down a socialistic path. What the above poster needs to understand is that Obama doesn’t want him to have ‘room to breathe’; he wants all of us to be in poverty, with the government controlling most of the money that we earn.