Sunday, September 4, 2011
Stop Coddling the Super-Rich
I agree with Warren E. Buffet to a certain extent. I do agree that it is fairer to tax the wealthy more heavily based upon their income because they have the money that the poor and middle class don’t have, like Buffet said, “…for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.” However, a huge problem in our country is that our unemployment rate has skyrocketed. The “super-rich” are the foundation of our country, they create jobs. If they didn’t have the tax breaks they have or if they couldn’t register their income as “carried interest” they wouldn’t have the discretionary income to hire people to landscape or clean or cook. By doing so they are creating jobs for people, therefore they are circulating the money and alleviating the deficit.
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Sooo I guess I never really though about things that way. You're right when you say the rich supply jobs. However, I wonder if they would still have maids and butlers and cooks and landscapers if they were taxed a little more each year. Who knows..maybe if the rich gave a little more, while keeping their help at hand, the economy would start to look up!
ReplyDeleteI agree much of what you just said. The fact that billionaires tend to create a considerable amount of jobs for things they simply don't want to do themselves is very important. Never thought about the jobs they create as individuals, not to mention the jobs they create in whatever company they take part of
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