One of the most enduring -- yet misleading -- arguments against tax relief for higher-income Americans is that "the rich" wouldn't really mind having to pay more taxes.
Here is how a retired postal worker in Florida stated that in a recent article in The Associated Press: "Those millionaires wouldn't even miss that money," he said.
The trouble is, that misses the point.
It's true that a wealthy person who has a successful business and earns, say, $2 million a year might not personally feel any deprivation if he suddenly had to pay a few thousand dollars more in taxes. He likely could still buy a nice new car or home if that's what he desired.
But tax relief for people who already pay an excessive share of the taxes -- and who are likely to generate jobs -- isn't about doing them a favor. It's about the benefit to all of us when there is more money circulating in the free market for investment and job creation!
If a small-businessman has taken some successful risks and created jobs for Americans along the way, it makes excellent sense to ease his disproportionately high tax burden -- not necessarily as a reward to him for good performance but because he has shown that he knows how to create jobs that benefit not-so-rich people and the entire economy. He has demonstrated exactly the kind of entrepreneurial spirit and ingenuity that our country needs more of to turn around the weak economy.
Punishing his success by forcing him to pay higher taxes may yield some short-term extra revenue for the government. But ultimately, taking more of what he earns means he will not be able to invest as much in additional job creation. That will make him less successful, and he will have less for government to take the next time it comes knocking, asking that he pay his "fair share."
In other words, you don't have to have any particular affection for "the rich" to understand that economic policies that penalize success and job creation will, naturally, mean less success and less job creation.
Our nation would be a lot more prosperous across the board if we understood that.
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Disproportionately high tax burden?
Say what?
You want to take a look at how much certain Fortune 500 companies paid in taxes recently? Try Goose Eggs for some. Bonuses for others.
It's not about your beloved small businessman, you know that, it's about the real money. And you can damn well bet they're all too glad to ship jobs overseas. Just ask Mitt Romney, he's done it. So have his friends.
But you know what? Our government is supposed to invest in things that benefit the country as a whole. Without investment, without maintenance, things go wrong, or just can't grow. It's like you've never managed a business yourselves. Do you think you'd be able to operate a store if you let the customers walk out without paying for their merchandise? Some of them won't even let you use the toilets without buying something first.
Yet you would have our country do just that. I think you have missed the point of taxes.
Arguably, America peaked in the 1960s when graduated taxes were higher and America's middle class was thriving. The tax cuts beginning in the 1980s not only favored the rich but began the debt spiral that is now crushing the nation.
Tax cuts have built a powerful ruling class and left the rest in ruins. How much evidence do we need to see what is right in front of us?
Nobody wants to pay more, but those with the least can hardly be expected to fill the defict gap. The money has to come from where the money is. Pretty simple really.
One can pass along a lie and believe a lie without being the author of the lie. Lieberals always do at least two of the three.
On the subject of taxes the big lies are higher tax rates mean more revenue and the rich are not paying their fair share. The rich are not stupid, they will just refuse to participate in those areas where they have a choice, which will and has in the past resulted in less revenue for the feds. Witness the refusing to hire to avoid paying the Obamination care tax.
The rich don't pay their fair share is such an egregious lie. One have to be dumber than a box of rocks to actually believe that one. The 47% who pay no federal income taxes are the most vocal in promoting that one. They seem to have no shame.
nucanuck: And in the 60s, there was a great deal of loopholes and exemptions going on, just as today.
conservative: How much income does that bottom 47% have? Give the answer in raw value, and remember to include the number of persons.
"Here is how a retired postal worker in Florida stated that in a recent article in The Associated Press: "Those millionaires wouldn't even miss that money," he said."
"They don't need it" or "they won't miss it" is often the rationale of THIEVES! They have no respect for the property of others. Most Lieberals prefer the vote method to steal. Some Lieberals are more open in wanting the property of others even stating that's "where the money is." It was reported that the notorious bank robber Willie Sutton was asked why he robbed banks and he replied "because that's where the money is."
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