The rich are not slipping away and never will. That is where you are wrong. When you tax the Rich, they don't feel it. And here is why. Assume they are going to spend 250k on them self over the year. Which means they are going to have 750k sitting in some type of invest. Now you tax them say 10K more. If you think they are now going to only spend 240K on themselves you are dreaming. They are still going to spend 250k the result will be only 740k going into investments. That investment money, is what funds the economy, it is what business use to hire and pay employees, it is what they use to make improvements and grow. So when you tax the rich, what you end up with is lower salaries and benefits, fewer jobs, and less business growth, along with higher prices.
So by making yourself feel better by taxing the rich, all you have done is hurt the middle and lower classes and the businesses and economy. As I have stated before. It doesn't' matter where a tax is applied, we the middle class will feel the brunt of it. Next middle class person who doesn't get a raise, or loses a job, you go tell them it is FAIR.
What you also get, is that next year, every dollar extra you tax from the rich, is a dollar less generating income for the rich to tax next year, and dollar less being paid to the middle class generating tax revenue. Lower spending and reducing tax keeps more money in the private sector to tax.
LOL, Clinton was able to tax higher, because of the economy, not the other way around. It isn't a coincidence that the growing economy stopped growing, and started heading the economy to a recession which Clinton and congress tried to prevent by propping the economy on housing. Which setup the collapse and the economy we are dealing with today.
Originally Posted by: PackFanWithTwins