There is alot being said these days about increasing the taxes on the "wealthy" so our economy can grow.
Many people in this country really believe this will help, and that it is only "right" that the "rich" pay their "Fair Share".
Most have that philosophy because they are envious.
I am not an economist, I am just a a dumb ass boy from Arkansas, but I can see this is a bad idea from a mile away through a dust storm.
First of all, rich people are smart, that's why they are rich. There will always be a way to get around paying the high taxes.
If a wealthy person or cooperation is forced to pay higher taxes, they will simply lay off workers or cut their benifits so the taxes can be paid.
They may downsize and make less money yet still have the same bottom line of profit if they pay less taxes.
I am not wealthy. I never have been, and never will be. If I was, and I had gotten that wealth through hard work, long hours and alot of stress, it would be un-American for anyone to expect me to pay more.
I am a salary guy. I do not get paid overtime. I pay about 15% of my income in federal income taxes each year.
Last Friday, I had just came off of a 30 hour stretch with no sleep when I saw some boyz with their drawers showing, just hanging out around a convenience store.
I doubt they ever paid a tax in their life, and I doubt they ever will. They do not want to, because I can work my ass off and do so for them.
Tax breaks for the wealthy may not create jobs as many conservatives are saying, but I believe raising the taxes will lead to higher unemployement or at the very best loss of benifits such as healthcare and paid time off.
I believe we need to retain a certain amount of income tax based on a person's or buisness' income as we already do. Those percentages need to be lowered, however.
If we were to totally eliminate the IRS, lots of people in both the private sector and the government would be unemployeed.
With the current income taxes lowered, a new federal tax on certain items could be leved. In that case, the undocumented workers and foreign tourists would have to pay taxes, as well as those who choose to be "paid under the table".
Food, utilities, gasoline diesel, products for infants, medications of any kind are examples of things that should not be taxed.
Luxury items to be taxes would include, just to name a few, new automobiles (not used),tobacco products,alcohol, junk food, clothing that exceeds a certain amount and fast food meals.
That is the only way to really tax the rich.
Finally, I am so tired of hearing about the unfairness of the BIG OIL companies' profits and how they should be taxed.
Do peopl,e really believe that taxing them will lower the cost of fuel?
If you do, you are as naive.
I will save my opinions on BIG OIL for another day.
If politicians dont learn to agree on anything it wont matter who gets taxed, there wont be any money being spent on anything. Income that is. Only debt.
ReplyDeleteAnother good read, Thanks