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4 th Generation Texan  
Sutherland Springs  
March 13, 2012 11:02am
 
"Puzzled" Ask NJ and NY how well that worked when they raised the taxes on the wealthy. I beleve the revenue in NY dropped about 50% on wealthy the year following the tax increase and NJ had similar results. If you make paying taxes unbearable for the wealthy, they will simply pack their stuff and move to another state of another country that is much more tax friendly.

You really should become familar with the Laffer Curve. This curve indicates that you can only collect more taxes only up to a certain rate and then the higher the rate above that point smaller amounts of taxes will be collected. That happens cause the wealthy have many means to avoid paying a really high tax rate. And, I heard recently that a study found that raising taxes on the wealthy up to the rate Obama wants to enact would only bring in a few $billion, but No where, I said NOWHERE nearly enough to help out in the slightest to compensate for the extra $6 trillion in debt that he has accumulated just over the last 3 (three) years.

And, if you raise taxes on small business owners (this includes most of the people Obama calls wealthy), they won't have the necessary funds available to expand and hire additional staff which will greatly thwart any kind of employment recovery.

And yes, there are tons and tons of money wasted because of the inefficiency of government. And, billions are just thrown away or used for simply stupid things that are really not needed.

Obama is a liar!
     
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