A Question For Democrats

Ken McCracken • September 20, 2007

Okay, you want to raise taxes on the rich. I get that. But what do you want to do with the money?
At different times, it seems, you want to
1. Fund universal health care.
2. Give a tax cut to the middle class.
3. Reduce the long-term fiscal gap.
Which is it?

He goes on to point out that each percentage point increase in tax rates on America’s two highest tax brackets will only result in about $6 billion/year in additional income. And even that is questionable given that, when higher taxes are levied, people tend to take action (both legal and illegal) to avoid them.
Democrats may want us to believe that they’d be able to fund their agenda (and I’d point out that universal health care isn’t the only massive spending initiative they’ve got in the works) by only taxing the rich, but the reality is that we’d all bear the burden of their overzealous spending. Either that or we’d run up the national debt even more quickly than now.

Tags: Cultural Marxism, Nanny State, Politics

http://www.willisms.com/ Zsa Zsa

Bill Mitchell, again well said!
Bill Mitchell

Who are the “rich” in America? Who makes over $200,000 a year?

I’ll tell you. Risk takers. Business owners.

The more you tax a business owner, the less risk they can take on while expecting the same ROI, correct?

Of course correct.

Who pays income taxes? People that make income. How do they make income? They work for business onwers (the rich). Why do they have jobs? Business owners assumed the risk of hiring them because they would receive a sufficient ROI.

And what happens when we raise taxes on the business owners? They hire less people. And who pays the taxes those employees were paying?

Answer. No one does.

Who spends the money in the economy those employees were spending?

Answer. No one does.

Raise taxes on the “rich” and they put their money into safe, low-tax investments instead of hiring people. Money in safe, low-tax investments doesn’t get taxed over and over again. Employees wages do.

This is why raising taxes on the ‘rich’ makes no economic sense and is really just class warfare.

To a Democrat, if you raise someone’s taxes by 5%, that means you have 5% more in the treasury. They fail to calculate the 10% you are costing the economy for a net 5% loss.

Democrats are evil idiots.
http://SayAnythingBlog.com The_Whistler_ofnd

Obama would pay for his tax reform plan by closing corporate loopholes, cracking down on international tax havens, closing the carried interest loophole, and increasing the dividends and capital gains rate for the top bracket.

The politicians have been saying that for years but it never happens.

Kent Conrad claims he’ll close the tax gap but it never happens.

I don’t think it will ever happen, in the case of the tax gap because you can’t get blood from a stone and in the case of the tax shelters (1) the people that can afford those shelters always will find a way and (2) the crooks in Washington won’t do it anyway.

The way TO maximize revenue is to lower the tax rates so any tax avoidance schemes is more expensive than the taxes saved.

The other thing is to quit stealing from people to buy votes and you won’t need so much money.
http://proof-proofpositive.blogspot.com/ proof_positive

Obama would pay for his tax reform plan by closing corporate loopholes, cracking down on international tax havens,

Crack ing down? Are you saying that because Obama’s black???
Sorry! I was channeling Lestat there for a second!
docdave

Obama would pay for his tax reform plan by closing corporate loopholes,

What corporate loopholes? You don’t know? I expect Obama doesn’t either.

cracking down on international tax havens

By doing what? You don’t know. Figures.

closing the carried interest loophole

Again what loophole?

increasing the dividends and capital gains rate for the top bracket.

The top bracket of what?

Like most of what you post, doggie, no substance.
http://sayanythingblog.com/ likwidshoe

Obama would pay for his tax reblah blah blah blah blah

The reality is that Obama would force the rich to move their money to friendlier markets.

You’re not going to be able to run your jive past us WOOF.
WOOFX

Obama would pay for his tax reform plan by closing corporate loopholes, cracking down on international tax havens, closing the carried interest loophole, and increasing the dividends and capital gains rate for the top bracket.

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