Sunday, April 5, 2009

Who's really affected by higher taxes on higher income?

Many people often commit blunder in judgment on who's affected by higher taxes on higher income group.

Rich people are rich by what they have earned already. They are not rich because of what they are about to earn. The only way poor people can get richer is by earning higher income. If Govt taxes higher income at higher rates, it robs poor people of opportunity to get rich. Not to mention, higher tax rates invariables affects businesses, which would hire fewer people.

If Govt really wants to transfer money from rich people to the poor, tax people on what they have already earned, not on what they are about to earn..

This probably explains why rich Democrats want to tax higher income group people. Higher taxes on higher income people ensure poor people remain poor.

Never beleive the rich crooks who only pay capital gains on their income and come out in support of higher income taxes for the rich.

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