Andrew Tobias has a brilliant article about taxes. You should read the whole thing, but if you’re too lazy, here’s just the start of it:
- Is the reason you’re not investing in stocks these days (a) the prospect of having to pay 15% capital gains tax? Or (b) the fear of further losses? (Well, or – c – that you don’t have any money?)
- Is the reason you don’t start a new business that (a) if it made you a lot of money you’d have to pay a lot of taxes? Or that (b) you can’t get anyone to risk the funds you need to finance it?
- Is the reason you don’t hire new workers that (a) you’re paying so much in taxes? Or that (b) with business down so much, you don’t need them?
- Is the reason you’re not spending money as freely as you used to that (a) your taxes are too high? Or that (b) you’re afraid of losing your job? (Well, or – c – that you’ve lost half your net worth and suddenly realize you’d better get serious about saving for a decent retirement?)
- Is the reason you’re unemployed that (a) taxes are too high to make you want a job? Or that (b) you’ve sent out 400 resumes and called every connection you have, but no one’s hiring.
If the answer to all – or any – of these questions is (a), then Louisiana Govenor Bobby Jindal and his fellow Republicans may have a point in trashing the President’s strategy and pushing tax cuts to get us out of this mess.