Economic Divide
No, soaking the rich is not the best course of action.
While I would have little to no problem paying high taxes if I earned in the
millions and billions, the people who achieve that amount of money often do
mind very much. If you put pressure on the rich with the threat of taxing their
money, then they find ways to get it out of the reach of taxation. Maybe by
investing or moving business overseas…? The way to get the money out of the
rich is to give them incentive to spend it in America. It’s a republican
talking point, but it is right in that the rich are intentionally holding back
the economy due to President Obama’s economic policies. Government plays a role
in the strength of the economy, but you only see the crazy American
capitalistic growth and prosperity when the rich decide. Moreover, the rich
decide to create that atmosphere when it works out best for them.
Incentive or not, the rich will find ways to exploit the system for *their* benefit, not anybody elses. I'm not sure if placating them even more will lead to increased benefits for the poor and working class. In essence, you are arguing for trickle-down economics, right?
ReplyDeleteFor example, tax rates for the wealthiest people in this country are already at historic lows* and yet the rich are still crying foul. They will not be happy until they have the unfettered ability to bleed the lower and middle class to death.
*http://www.politifact.com/truth-o-meter/statements/2011/jun/29/barack-obama/barack-obama-says-tax-rates-are-lowest-1950s-ceos-/