Is SALT a way the Dems lower taxes on the Rich ?
That’s right. The rich create the jobs.
Nobody EVER asks the question:
“How will taxing the rich affect YOUR life?”
bkmrk
That’s why we should scrap the current tax system and at minimum start all over again with the flat tax that Steve Forbes proposed back in 1996.
Leona Helmsley said it best... ‘We don’t pay taxes; only the little people pay taxes’
Rich people don’t pay taxes. They never have and never will and many of them... Like Elon Musk, survive and thrive on tax breaks. The middle classes have always paid the taxes and the rich have relied on their charitable contributions to assist society.
And all politicians who claim they will raise taxes on the rich are full of it.
CUT ALL TAXES.
REDUCE ALL GOVERNMENT.
Warren’s recent Medicare-for-all is estimated to cost around $34 Trillion — and she claims taxing the rich will pay for it.
The sum total of wealth of the top 100 Americans is just over $1 Trillion. If Warren confiscates it at 100%, she still has $33 Trillion to go — and she can only do the 100% confiscation once.
The Leftists are delusional. They keep repeating the line that the wealthy will pay for their plans. In reality, it is the middle-class taxpayers who get stuck. Just like they did with ‘if you like your doctor..., if you like your plan..., your premiums will go DOWN by $2000...’
“You cannot help the poor by destroying the rich. You cannot strengthen the weak by weakening the strong. You cannot bring about prosperity by discouraging thrift. You cannot lift the wage earner up by pulling the wage payer down. You cannot further the brotherhood of man by inciting class hatred. You cannot build character and courage by taking away people’s initiative and independence. You cannot help people permanently by doing for them, what they could and should do for themselves.” Abraham Lincoln.
Soak the rich has two flaws. First the rich aren’t stupid a will seek ways to avoid the new higher taxes including moving out of the country. If, heaven forbid, Elizabeth Warren were to be elected next year, there would be an almost immediate flight of the rich. Stocks and securities would plummet as the wealthy would liquidate their assets and prepare to flee. The price of gold and silver would soar. The second flaw is what happens in year two. Those who did not flee the country and were taxed at ridiculous rates would have little incentive nor capital to continue with high earnings. Who doesWarren propose to soak next? Middle class taxpayers would be facing tax rates of 60-70% plus other tax schemes like a value added tax, high taxes on energy and even taxes on certain foods like red meat. The country would descend into a tax hell.
Why would anyone believe that taking Money from the wealthy that somehow it will magically make it’s way to the poor???
The rich as a rule can support their lifestyles without depending on incomes from volatile forms of investment so when taxes are high they focus on low risk and wealth conservation, which reduces the general public’s access to their cash, shrinking the pool of capital available to borrowers and driving up the interest charged on those same funds.