In anticipation for The President’s State of The Union speech, I’d like to make a request… If your personal income is not in the top 10% of The Nation, how about you STOP acting as if your wealth/savings/life is going to be affected by taxing the rich. When you are part of the wealthy elite it makes sense for you to complain and be worried. But until then, you are just being silly. Now before anyone gets on their soap box let me address some of the arguments generally made: 1) Almost 50% of Americans don’t pay taxes anyway (I love this one). First of all, if you are on any kind of state or federal assistance THERE IS NO WAY to get around certain taxes (fuel tax, sales tax… etc.). When people make this statement it is a bit of trickery. It is true many Americans do not pay Federal Taxes because of income credits and deductions. Do a little research and you will discover many of the wealthy are included in the group who DO NOT pay Federal Taxes, because of exemptions for all kind of stuff!!! 2) Raising taxes on the wealthy will result in another dip in our economy. From the 50’s to the 80’s the tax rate was higher for wealthy Americans and our economy was thriving. Furthermore, Bill Clinton raised taxes on wealth during his time in The White House and the economy remained strong. 3) Taxing the rich will force them to take their companies elsewhere. The United States of American has many of the top universities on the planet! Corporations may move some manual labor jobs overseas to increase profits. However the education, talent, infrastructure, and reliable business essentials found in every state here cannot be easily duplicated overseas. 4) Finally, why punish the rich for working hard? Since the 1980’s the rich and wealthy have not done anything for hard working Americans other than cut job benefits, and jobs to increase profits. OHHHHHH, let’s not forget the amount of corporations who skipped out on paying retirement benefits to employees because they invested recklessly. When these corporations filed for Chapter 13 protection they left many retirees with nothing, but they made sure their Golden Parachutes were intact! DON’T YOU WORK HARD? I know I work super-hard!!! I don’t think rich, wealthy Americans need to be punished, but I think they owe all of us hard working Americans much more than they have been giving us for the past thirty-five years.
Posted on: Tue, 20 Jan 2015 03:41:20 +0000
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