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Politics : Mainstream Politics and Economics
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To: Paul Smith who wrote (25187)8/27/2012 2:32:54 PM
From: gamesmistress  Read Replies (1) of 85487
 
"We've had it backward for the last 30 years. Rich businesspeople like me don't create jobs. Rather they are a consequence of an eco-systemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners profit. That's why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich."

How will "investments" help the middle-class consumers? If the successful business owner kept more of his money, he could use it to expand his business and hire more employees and pay them so they'd have more money to spend. This guy wants to tax the "rich" (which he uses as a synonym for business owner) so that the government can "invest to benefit all". Sounds like redistribution - hey, the government's giving me a check for $250! - or the government will use the money to hire more government employees which of course will result in higher taxes to pay for them.

He also has a philosophical objection to lower tax rate on capital gains, while failing to acknowledge all the deductions that frequently lower the tax rate for ordinary people:

"The extraordinary differential between a 15% tax rate on capital gains, dividends, and carried interest for capitalists, and the 35% top marginal rate on work for ordinary Americans is a privilege that is hard to justify without just a touch of deification." In his view, "it is a small step from "job creator" to "The Creator".

Oooookay.


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