Off-Topic: Ben Stein said much the same thing
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Name:
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water_watcher
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Subject:
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Ben Stein said much the same thing
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Date:
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9/19/2010 5:42:35 PM
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Hound I agree on the tax cheats and no, every family making over $250K is not creating jobs for others .... but households making over $250K do account for 40% of all consumer spending. So taxing them more does cut in to spending that does create jobs for others.
The argument that cutting taxes more for those that make over $250K has less stimulus impact as cutting taxes below $250K. That may be the case, but we are talking about raising taxes on a segment that generates 40% of consumer spending and spending will go down and have a further negative impact on the economy.
You lived in DC, you would have to agree that $200K in DC is less than Alexander City. The same with NY, LA and other major cities. That is where the higher income is, not in rual america. So it plays well in the press, but those making that income adjust their lifestyle to their income, taxing them more is just as great of burden, and why should they be penalized because they were successful.
The big dollars on wallstreet ... much of that is gone and many are now on unemployment (maybe they should be) ... but the ultra wealthy is a very small minority and they too are mostly self made and why should they be penalized further when they already pay the majority of personal income taxes?
It is now 49% that pay no taxes ... so how much are we going to keep taking from those that have reached a level of success ... that is what many take risks to achieve. Those that make it create jobs, but many fall on their face. The greater the risk, the greater the reward should be. It seem that is what Obama wants to penalize those that achieved that success for their risk.
The answer is a consumption tax and stop penalizing income ... wealthy people consume more, so they would pay more.
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