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Tango 
Member since Apr 15, 2011


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Re: “The ruin of Reaganomics

So how do the "raising taxes raises revenue" folks respond to the treasury statistics that prove lowering maximum tax rates actually produces more revenue?

Additionally, while it's a wonderful example of class envy/warfare to blame the rich for all our ills, who provides the capital to open businesses and hire the "working class" folks? I don't know of many "working class" folks who could raise the money necessary to open ther own business and hire a few of their fellows without turning to one of those evil "wealthy" folks, and if they're going to take a bath on taxes if the business succeeds then why make the money available?

A closing note. Many of the folks reading this may remember when the "2nd British invasion" took place, and many stars from Clapton to Lennon to Elton John became US citizens - or at least moved their official place of residence here. The folks pushing for higher taxes on the rich probably believe the PR about it being "so they could be closer to Hollywood and the music industry". Such an attitude is woefully ignorant of the rise is socialism that was occurring during the same time frame. The moves weren't coincidental.

Go ahead, make the US the highest taxing country on the planet. You socialist minded folks will feel real smug about how you're "making the rich pay" - until they move - something they can afford to do in any market.

Then you'll have to adjust the definition of "rich" down a few tax steps - kind of like what Obama did during the campaign - in order to "spread the wealth around a little". Because us working class folks can't up and leave, and the leeches on welfare don't have any reason to.

Eventually the truisim of Margaret Thatcher will be proven - that is that socialism is wonderful - until you run out of someone else's money to spend.

Posted by Tango on 04/15/2011 at 4:58 PM

 

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