Quote:
Originally Posted by Stu from NYC
Lets have the rich pay their fair share whatever that might be.
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If every "rich" person like Musk was taxed at 100%, and all their assets were seized, it would barely make a dent in the national debt. There isn't enough of them to make a difference. It sounds great, but in reality it is a stupid concept to believe in. Politics 101.
"Make the big corporations pay their fair share" really means to raise taxes on all of us. Those taxes will get passed down as higher prices to everyone that buys their products.
Raising taxes has the effect of reducing how much money people have to spend on goods and services. That directly hurts the economy. As businesses sell less, their profits go down. Then, to stay profitable, they raise prices and lay off workers. That's another hit to the economy; less people buying things. And the cycle repeats.
Raising taxes is not the solution. A balanced budget is the first step. Live within your means. Grow the economy and tax revenue will go up. Use that to pay down the national debt. Stop spending double the amount of money coming in.