It does seem perfectly straightforward, doesn’t it? If high deficits are really going to ruin our country and its economy, then it seems obvious that every rich person should be for raising their taxes.
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5 Comments
I shake my head when someone tells me “…but they’ve earned it.”I have yet to meet anyone who hasn’t benefited from a “government hand out,” by which I mean any money gov has spent, be it on roads, airports, r&d, etc. The richest people I personally know got their big break with a large government contract. Even money given out in social safety net programs eventually makes its way back into the pockets of those at the top of the economic food chain. Demand not supply makes the world go ’round.
That’s an interesting analogy — supply and demand. But of course you need both. Right now, the supply-siders have it tilted way too far to one side.
Well, supply can certainly make the world go ’round as well. Just look where cheap loans did. Of course, spin too fast and you get dizzy and puke.
Only because there was already plenty of demand for housing.
I know we were talking about Corporte tax cheats earlier, here are the top ten cheats from 2010. Some names I could guess, some I was surprised.
GE
Pfizer
Merck
Johnson&Johnson
Exxon
Citigroup
Cisco
IBM
Proctor &Gamble
Microsoft
GE had 84 bill in untaxed foreign profit to #10 Microsoft which had 29 bill.
http://money.cnn.com/galleries/2011/news/companies/1104/gallery.foreign_untaxed_profits.fortune/index.html