"Rich people don't create jobs, nor do businesses, large or small". The title of a recent op-ed piece.
Then who the heck does?
"Only when customers demand products and services they want and can pay for do companies hire people to make the product or provide the service".
So, where do the companies come from? Do they spring untended from the ground and blossom to fruition of their own accord, or does someone pull it out of his or her ....? A person has an idea for a product or service and starts a business, hiring people as the business grows, or falling flat and having to look at something else. But, if you take his or her income with higher taxes, it cripples the business by not leaving enough to put back into it
So, the premise of this op-ed is that the higher the income, the more taxes should be paid, so that government can create the jobs. And we all know how that has gone. Right down the toilet. Homeland security started with a few dozen people and now has about 200,000. Doing what?
The IRS hired 16,000 extra employees. To administer Obamacare. What the ....? The post office is billions in debt, Social Security and Medicare are on the ropes, thousands of people have been put out of work due to scatter-brained energy policies, the congressional budget has increased ten-fold since 2000, and you want the top people to pay more? To pour it in the gutter?
In 2010, the tax rate paid by individuals with incomes in the top 1 percent averaged 23.39 percent, while all filers in the bottom 50 percent paid an average tax rate of 2.37 percent, according to a new Tax Foundation analysis. The top 1 percent of tax returns included 18.87 percent of all adjusted gross income and 37.38 percent of all federal individual income taxes paid. The top 5 percent earned 33.78 percent of income and paid 59.07 percent of taxes, and the top 10 percent earned 45.17 percent of income and paid 70.62 percent of taxes.
It's interesting that, with so many socialists in our government and community, all the talk is about sharing the wealth. All except their own.
Submitted by Virtual Newsroom