In every Presidential campaign the Democrat rolls out the Party's perennial theme, taxing the rich & corporations to pay for goodies for "working Americans." (Like the people they want to tax are not working Americans). A kind interpretation of this is that these politicians are economic ignoramuses: the less charitable view is that they are charlatans.
The fact is that you can't tax the rich without taxing everyone. Typical net profit margins are around 5-6%. To survive, the corporation, business or professional person must pass along to customers, clients & patients all of their expenses, including taxes, or scale back on staffing, employee compensation or expansion. The corporation, small business & professional person are simply the conduit through which the taxes are extracted from each & every consumer & worker.
Incidentally, we have the 2nd highest corporate tax rate in the world, just a smidgen behind Japan, whose economy has been in the toilet for about 15 years.
The key factor to keep your eye on is government spending. The more the government spends, the more we are all going to pay, one way or another. There's no escaping. So when you here a politician promising goodies at someone else's expense, ask yourself if it's worth jeoparding your income or paying higher prices for the goods & services you depend on.
Spending, that's really the issue.
3 comments:
The current Republican administration has spent more in the last 8 years than the last 3 administrations combined. And is increasing the deficit each month by what the Reagan administration did per year. Given that it is spending, not taxing. It’s time for a change.
I am ready for reform, not change.
Eric-
If you want to lower spending then I suggest we not elect the most liberal US Senator currently serving.
It is no secret he has plans to add all kinds of spending and/or programs to the books.
Post a Comment