Raising tax rates (ie letting the Bush cuts expire) on the rich, might not lower the opportunities for employment. Simply because the majority of taxation on the rich takes the form on taxes on capital gains, which is why the Romneys and the Buffetts pay at a lessor rate than their secretaries. It would have an effect on a lot middle class folks who derive their income from S Corporations which is a pass thru from their small businesses. And those folks are the ones who do the majority of hiring. So the tax the rich meme is really a redirection wrapped in class warfare because the targets of the increase really are not affected.
Those who see a need to raise taxes should allow the Bush tax cuts expire for all tiers for the equality!
Isn't that the opposite of helping?
No change in the income tax affects the capitol gains tax, you are severly in the apple orange marmalade there.
Every dime removed from the economy is a dime no longer availible for the economy to use , the government will put part of that back , but less than just leaving it in the economy would have done .
Capitol gains taxes being high discorages investment , and makes retirement more difficult, if we would cut the capitol gains taxes in half why wouldn't that doubble the amount of small business start ups ? Wouldn't it also encourage selling houses at lower margins of profit?
Income taxes being high discourages work, what if we reduced all income taxes 2%, wouldn't that mean that all of the people on the margin of tax bracket creep would get a reprieve? Wouldn't many thousands find 2% more disposible income handy for upgrading their appliences and cars?
I really do not understand , what is magic about the government ? When they confiscate the money and then return it , at the best they delay its deployment, at the worst they really waste a lot of it.
I read a National Geographic article once that told of a cargo cult, giving a can full of coins to the prophet, the author watched as the cult members poured the coins from one bucket into another over and over as they blessed and sang over it.
At the end they counted up , the number of coins were the same but their ownership had changed from the author to the cult.
I thought it was a funny story at the time , but now I work for the government.