Saturday, November 12, 2011

Why are tax cuts for the rich so evil?

Cutting tax cuts for the rich is both economically sound and ethically sensible. Consider a person making $400,000 a year is paying around $200,000 in taxes . In a recession, when people are worried about money, cutting the taxes on the rich guy by, say 5%, gives that guy $20,000 to spend. This is a huge amount of money which makes the rich person feel financially comfortable, which then prompts him/her to spend more, developing businesses and creating jobs. I make $40,000 a year, I'm not rich and probably never will be, but I'm not whining about how cutting taxes for the rich is "not fair" because when you think about it the rich guy is actually spending way more in taxes then the poor guys are, and that money isn't just going to him, its going to the economy and helping me out by getting my country out of a recession. Liberals are still touting early 20th century progressivism and painting the rich as greedy and immoral, but the rich are people like anyone else, if you step back and look at the situation logically any argument against cutting taxes on the rich doesn't make sense.

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