Taxing the Super-Rich, Does It Help or Hurt?
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Remember Reaganomics? Introduced by Ronald Reagan,
it was a principle that stated that tax breaks for the rich would eventually trickle down (also known as trickle down economics).
The idea is central to the concept behind VC or venture capital.
Having been a software developer for a start-up powered by venture capital, I can personally testify that venture capital creates new companies and directly creates jobs. New jobs allow more employees to afford housing, which helps the economy.
Again venture capital comes from the rich, or the super-rich. Why? Because venture capital is an investment that has a return.
With venture capital there is a direct path from the investors (the rich) to the jobs that get created.
On the other side of the coin is the argument to tax the super rich with the idea that the government knows better how to use the money that those rich people are apparently "hoarding".
If the government can sell the idea to voters that they are capable of taxing the rich with the goal of making a "level playing field" they'll start coming up with penalty taxes for success. That will drive money overseas and strengthen other countries economies, and ultimately weaken the US economy.
If the choice is that rich people can invest their money and help the economy, or that the government will use it more efficiently; I will always argue that politicians tend to be inefficient.
What do you think does taxing the rich make the government into a robin-hood and help everyone else?
it was a principle that stated that tax breaks for the rich would eventually trickle down (also known as trickle down economics).
The idea is central to the concept behind VC or venture capital.
Having been a software developer for a start-up powered by venture capital, I can personally testify that venture capital creates new companies and directly creates jobs. New jobs allow more employees to afford housing, which helps the economy.
Again venture capital comes from the rich, or the super-rich. Why? Because venture capital is an investment that has a return.
With venture capital there is a direct path from the investors (the rich) to the jobs that get created.
On the other side of the coin is the argument to tax the super rich with the idea that the government knows better how to use the money that those rich people are apparently "hoarding".
If the government can sell the idea to voters that they are capable of taxing the rich with the goal of making a "level playing field" they'll start coming up with penalty taxes for success. That will drive money overseas and strengthen other countries economies, and ultimately weaken the US economy.
If the choice is that rich people can invest their money and help the economy, or that the government will use it more efficiently; I will always argue that politicians tend to be inefficient.
What do you think does taxing the rich make the government into a robin-hood and help everyone else?
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Very fair handed posted...enjoyed!
Posted by
Tony Gallegos |
7:20 PM
Taxing the rich does not help anyone except for those that have no desire to get off their arse and better themselves.
The government does not do a better job at stimulating growth. The only thing that stimulates growth is for a company to have money to fund that growth
Posted by
loren nason |
7:48 PM
Loren, I agree. If it gets tougher to live large because of the economy shouldn't that just mean it's time to try harder? If that doesn't work we could always just complain and see how that works.
Posted by
Rory |
8:47 PM