It seems democrats have one solution to all of our money problems - Tax the Rich! But I am neither convinced nor impressed.
Today the top 1.4% of income earning families, those making more than $350,000 per year, pay over 45.2% of all taxes collected. Are you comprehending that?! Basically 1% pay half of the bills for the entire country.
This same 1% that pay half of our taxes are also the biggest investors and charitable givers. It's not hard to figure out, this wealthier group simply has more money to invest and give away. They drive the stock market, churches, food pantries, programs for the arts, etc. And yet, we want to tax them harder!
But why? Why penalize people for being successful? Why discourage stock market investment? Why are we pretending that taxing the rich will do anything other than destroy wealth?!
The House of Representatives has recently passed new tax increases for the rich. This is happening right now. And like many other recent monetary decisions, this one is a HUGE mistake.
Monday, July 20, 2009
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