Quote:
Originally Posted by Keedy
Sounds like the old class envy baloney to me. What your chart doesn't say is where the money goes instead of going to the government. The more people have.. the more they spend. When rich people spend they put people to work. Purchasing luxury items, from vehicles to yachts makes the economy hum. Around my area, when they increased taxes people stopped buying boats. Put many people out of a job. When capital gains were lowered yacht sales boomed and there was actually a shortage of skilled workers to fill the orders.
I was never hired by a poor man. Put money in people's pockets and they will put an addition on their house or trade up to a bigger home. They trade in their clunker for a new upgraded vehicle. They buy that new lawn tractor or they hire back that landscaper, who puts more people to work.
It is amazing what will happen when the shackles of taxation are unlocked....
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Guess what? I AGREE with your premise. But there's only one problem. How do we balance the budget and pay off the national debt? It's pretty clear it won't be done with reduced government spending. So what else is there except increasing taxes?