Should We Raise Taxes On The Rich?

September 16, 2010

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[Editor’s note: although the sentiments of this article remain the same today, please note that the article is from September 2010 and refers to events in that time frame.]

Benjamin Franklin once said, “Certainty? In this world nothing is certain but death and taxes.” As the Bush tax cuts are set to expire and the mid term elections only 2 months away, Congress is scrambling on what to do about the tax cuts.

If the democrats choose to back President Obama’s plan to soak the rich in taxes it would be political suicide. Let’s think about this. Right now we already tax the rich heavily. And who hires people, the rich? Who owns businesses? The rich. Why would taxing them benefit anyone? If they have less coming in, they’re less likely to hire people. With unemployment at record highs, why risk that? Again, if you have less coming in (or more going to the government) you might not only not hire people, but cut positions. And that would cause our unemployment rate to go even higher.

In this current economic climate, how does taxing more, which would cause fewer jobs to be available (or loss of even more jobs) even make sense? Trust me. I’m not rich. I’m not pleading this case for my own pocketbook. It just doesn’t make economic sense to tax the rich at this time. Everyone is already taxed too much. The government takes too much of what is ours. Benjamin Franklin was right.

If the tax breaks are allowed to expire and the rich are taxed more by our government, I hope people let their voices known on election night. Chris Christie said, “Higher taxes is the road to ruin. We must and we will shrink our government, and that means making some tough choices, tightening our belts.” In the current economy everyone has been forced to tighten their belts … why not the government?

One Comment (+add yours?)

  1. Onij
    Sep 19, 2010 @ 14:30:00



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