One of the favorite themes of liberals is the need and desire on their part to heavily tax the wealthy. Sometimes I think not a single one of them ever took a course in economics.
The liberals in Great Britain tried that approach in the 1950's. They nearly taxed the wealthy out of existance. What happened? Britain's economy plummeted. It wasn't until the conservatives took control and greatly lowered their top tax rates, were the former wealthy able to make a recovery. Along with their recovery, Britain's economy was able to make a return to it's former level.
Naturally, our liberals never learned a thing from that lesson.
Why is it important to the economy of a country to to maintain a wealthy class of citizens?
It is nearly impossible to maintain a healthy economy without the ability to create large numbers of new jobs. How are most new jobs created? By high risk venture. What does that mean? It means most new jobs are created by companys and corporations who are involved in businesses with a high risk factor.
Who has the money to invest in high risk ventures? It is the wealthy class of people. One of the reasons why they become increasingly wealthy is they can afford to invest in high risk businesses. Take away their wealth and you take away their ability to invest in high risk ventures.
I find it curious liberals take the attitude they do toward the wealthy. There are far more multimillionaire liberals in congress then there are politicians who are not millionaires. Or at least there was the last time I saw any figures on that.
Thursday, September 25, 2008
Taxing the wealthy
Posted by
Merle (Andy) Shelbourn
at
9:06 AM
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