Extending the CURRENT TAX RATES (Since when did the absence of an increase = cut?)
to ALL vs Not Extending it to anyone w/ income >$ 1million/ yr
Assuming all things equal (we'll get into that in a minute),
would increase revenue collected by $700 million.
You really wanna risk further economic downturn over chump change like $700 million?!
BUT
Who makes more than $1 million per year?
Sure, the list includes:
Wall St types & some CEOs
Movie, Rock, and Sports Stars
Really good doctors and Lawers
A bunch of the people we all like to vilify.
But a lot of these millionaires are people who own small to medium businesses.
Distributorships
Small niche manufacturors
Maybe a half dozen gas stations or donut franchizes
specialty professional consultants
DSMokers -
These are people of the community.
Many of them will only ever make the good money for a year or two.
And THEY PROVIDE JOBS!!
You think some of them won't retire, sell out, or just shut down?
Why should they bust their asses and continue growing their business if the rate of return just got cut in half?
Picture this: "last year I kicked ass and grossed 1.3 million. But after taxes, I only made a little bit more that the year before when I grossed 950. I may as well have just settled back and collected my 950k instead"
It can be a drastic disincentive, creating a cutoff point after which there is little marginal return on additional effo
wow
I just had a flashback
My first day in my new job as a roofer, back in the day.
We were ripping off old roofing.
About 11:00 the guy who seems to be knida the second banana of the crew comes up to me, and quietly says "slow down. were milking this job, plus you might piss those guys off if you make them look bad."
But I digress:
Why do you hate the people around you?
Why don't you want your neighbors to get the jobs provided by our hardworking american hero entrepreneurs?
Why is it hard to understand that we need to get back to the American Way of growing the size of the pie instead bickering over it's (re)distribution, as while we fight over crumbs things get worse and worse.
Edited by user
15 years ago |
Reason: Not specified