Taxing rich could have unintended results

info@islandpacket.comDecember 24, 2012 

If the current administration gets its way, and its plan to tax the rich is successful, I ask those in favor of the plan a few questions:

  • What will be the outcome if the number of rich people declines in the United States, as it has in France and Great Britain since they implemented their tax-the-rich plans?

  • What will happen if the so-called rich, who have worked for their riches, throw up their hands in frustration and feel it is no longer worthwhile to put forth all the efforts necessary to produce the so-called riches, and as a result, businesses and revenue shrink?

  • If the plan to tax the rich does not produce the revenue the administration projects to solve our fiscal problems, who is next to be taxed, the not-so-rich?

  • Why is the administration's plan labeled "tax the rich" rather than being called "the plan to tax the successful"?

  • William Regrut


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