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1. Global warming claims all hot air, says speaker at OU2. Police chief: City can’t stop parties before they start3. Parties spun by OU alums have bootie-shakers raving4. High St. student renters take on big local landlord5. Is another oil and gas land-rush starting in Athens?6. OU student charged with raping 17-year-old7. Tanning parlor fights to get back into uptown Athens storefront8. For most, the journey to Nine Fest seemed worth it9. Oak and Mill fests mellow down easy10. Landowners’ group renews leasing pitch11. City Council acts to ban ‘fracking’ in water supply area12. Wal-Mart asks judge to grant store win in shoplifter’s lawsuit13. OU and city officials urge better fest behavior14. Pills defeated relative when no other drugs could do it15. David Alan Jones16. Electric blue skies, May warmth frame music fest17. Local developers hoping to revive struggling hotel18. Festering fests; down, down deep; and the Golden Rule19. Hall of Fame baseball coach calls it a day at OU20. Graphic design students show off their chops
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Home / Articles / Editorial / Letters / Punitive taxes on the rich will result in fewer jobs for everyone
Wednesday, April 20,2011
Punitive taxes on the rich will result in fewer jobs for everyone
To the Editor:
So nice to see that The Athens NEWS is carrying water for the Obama Administration's "blame the rich" campaign in the cover article on Monday. I guess it helps divert attention away from the most disastrous presidency in U.S. history. The only problem is that taxing "the rich" doesn't work. Here's why.
The reality is that a tax on "the rich" means a tax on everyone. Even if you taxed every "rich" person at 100 percent, it wouldn't be enough revenue for the government, or any government. So, eventually taxes get raised on the middle class and poor directly, or in most cases, indirectly. This is why tax-happy states like those in Europe are always raising taxes. That is why it costs so much to have a drink, or a smoke, or fill your tank, buy something (VAT taxes), or even start a business.
Higher taxes on "the rich" also mean more jobs being pushed overseas, which means more unemployment. "The rich" is the only class that creates jobs. Government doesn't create jobs; it just shifts public money around. Therefore, the higher the tax rates for this job-creating class the more they're going to look for loopholes, the more they're going to move overseas, the more they're going to NOT pay their "fair share".
Assuming that "the rich" are an evil we have to live with, does it make sense to tax them into moving jobs and revenue overseas? Does it make sense to kill even more jobs with a punitive tax rate? Does it make sense to punish the poor through unemployment and more expensive goods? To the Left it does. Why? Because government is their answer to everything, their god, and to have you more dependent on Big Brother and not yourself is their idea of Utopia. Not only is it un-American, it doesn't work.
James Yerian
Radford Road
Athens
Also in Letters:
Forest Service apparently on verge of allowing oil-gas leasesWhat good does Ohio University provide to Athens community?City just encourages drunk-fests by closing traffic, recognizing eventsLet’s hope that climate change denial evaporates into stupidityFor decency’s sake, Time Warner, bring back Columbus CBS!Mitt Romney and Palmer Fest celebrants have much in commonWhy is city discriminating against people who want to rent out homes?Health commissioner is ignoring a lot of hard data that questions fluorideIf you’re disgusted by banking folly, you can express yourself locallyCity Council right to challenge state law on fracking regulation
James,
You didn't just sip the kool-aid, you guzzled the whole pitcher. You make outlandish claims, but as long as the middle class can afford to buy liesure goods, corporations will sell them here. To lower the wages of the working class to third world levels will eventually, even hurt the wealthy.
But, hey, they have their money to cushion the blow.
Dude, do you know how to read? The middle class won't be able to afford anything b/c they won't have jobs. Because the rich will not hire them. There will be two classes: the poor, entirely dependent on the state, and the "rich", those that are left, that pay them. It is logic, not "outlandish" claims. Thanks for identifying yourself too :-)
Serious poposals to raise taxes for the top tax brackets are just an effort to make sure that any deficit-reduction plan balances sacrifice between all classes of wealth, including those who are the most equipped to pay more. If services and entitlements for middle- and lower-income people are reduced (or their taxes raised locally), taxes on high-end people should be increased. No credible deficit hawk will argue that deficit reduction can happen purely on the spending side, without huge repercussions for ordinary people. When Republicans preen about being the only ones serious about cutting the deficit, but then refuse to consider tax hikes, they're just as big of hypocrites as Democrats who pay lip service to deficit reduction while not supporting any serious cuts in spending.
As for tax hikes for the wealthy dampening investment that creates jobs, our economy has produced jobs at a healthy rate during many periods when high-end taxes were much higher than they are now. I suggest you re-read the article you were commenting on, before asking someone else to re-read your own letter.
James, that dog won't hunt. Trickle down economic theory is just that a theory that has been proven time and again to be junk economics.
Raising taxes on the rich so this administration can keep spending money like drunken sailors and selling America to China, smart, very smart. The only reason for raising taxes on the rich is so that more people can live off the Government thus creating more votes for the libs. How much money did you libs pay in taxes last year? What was your percentage? Mine was 28%. The fact is most of you don't pay taxes at all; it is time you pay your fair share. Socialism has never worked; just ask Cambodia how worked out for them.