It is really crazy to hear the president and his cohorts claiming that if we take away tax cuts for the rich, we can balance the budget more into the black. You have to wonder if the president or his cohorts every studey economy and how it works.
In order to have job opportunities, you need people with . . . MONEY to start or back the business with the idea that is will benefit the wealthy person as well as provide jobs and opportunities for people needing employment. If you take away any of the tax perks related to operating a business, why should the owner or backer continue to support it? The business closes. The owner/backer moves it overseas and a lot of people are out of work. That puts them on unemployment benefits and we increase the national debt.
I fail to understand why people who work hard and get financially ahead in the world should be penalized. Politician are against a flat tax that would treat everyone's income equally. Shouldn't everyone have the same percentage deducted for running the country? It goes against everything to make hard work and advancement liable for a punishment in the way of more taxes. That's a good way to reduce effort and put more people on the entitlement wagon.
We had friends who ran a small business that they dearly loved. They employed eight or ten people and it was a good place to work with great bosses and happy employees. Over the years, the various costs went up and the 'new and improved' regulations took their toll on the business. When they got an offer on the property, with a lot of regrets, they sold it. The business closed and the employees were out of a job.
I don't know about you but I don't have the money to start a business and when I need a job I go to a big corporation to look for employment. If they pay a fair salary, I don't care if they are millionaires - they earned it.
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