Quote:
Originally Posted by cab2g
The first priority should be to reduce the spending deficit either by actually cutting spending where we can or actually raising taxes. But as I mentioned, millions of people can't afford a tax increase. I have little mercy for the ultra rich though, you can tax them.  |
All right, let's take your statement about taxing the rich...
The Congressional Budget Office, IRS, ABC, NBC, MSNBC, CBS, CNN, Wallstreet Journal, Fox News, and numerous other news agencies have all found that the top 5% pay 59% of the taxes collected by the government.
Everyone says "Tax the rich!!" Seriously? You actually think Congress will raise taxes on themselves? They spend millions upon millions to hold an office that pays a little over $100K a year. Something stinks in the locker room and it isn't the sweat socks.
Or, "Tax the evil corporations!!!" Above the 35% they pay now? We'll be paying more for their goods and services. They pass on the tax to consumers in the form of higher prices, who in turn will buy less because of the increased cost, and then corporations will cut their work force. Mom and Pop businesses will just close their doors.
Tax EVERYBODY, including those on welfare, at a flat 10%. Then when Washington starts talking about raising taxes, the "poor" or "working middle class" won't be so quick to say raise taxes.
We have the highest corporate tax anywhere. When taxes were raised on corporations in the 1990's, they started planning to move overseas.
It takes time to build the infrastructure to move manufacturing overseas. That's why there was a massive move overseas earlier this decade by corporations. It took them this long to build all that infrastructure first.