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I never said you were trying to bring the economy to its knees. I believe you have good intentions.
If you think the poor pay too many taxes, I'm fine with that. Reduce 'em. The bottom 50% (most of whom could hardly be considered poor) could all stop paying federal taxes completely and barely make a dent.
My issue is when you start trying to sieze money from the upper 50% who fund 96% of our federal government. These people (middle and upper class) are already bled dry by the government. The last thing the need are more taxes.
What good do you really think higher taxes will do?
The ultra-rich, faced with some ridiculously higher tax rate, will only hide it from the government in tax shelters that prevent them having to pay taxes, but at the same time, prevent them from investing in business opportunities that create jobs. They will thereby generate less income, and at the end of the day, government revenues will shrink.
You mean well, I'm sure. But you should remember that the ultrarich aren't hurt by changes in law. They have armies of accountants and lawyers to find loopholes and minimize the impact of tax increases. The people hurt most by short-sighted attempts at wealth redistribution are on the middle and lower end of the scale, who make a decent living, but can't afford the fancy tricks.
And like it or not, the lower and middle class are dependent on the upper class to provide jobs. Giving those people tax relief allows them to create more jobs. This has been proven again, as it has in the past, with the effects of Bush's tax cuts, which you're now seeing generate about a quarter-million jobs a month.
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