I don't know anything, but wouldn't HIGHER taxes get the rich to employ more people?

Courtesy Flush

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Tue Jun-07-11 01:39 PM
Original message

I don't know anything, but wouldn't HIGHER taxes get the rich to employ more people?

It seems to me that when taxes are low, billionaires earn their money and keep it to themselves. But with high taxes, they'd have to invest in things that result in tax deductions. That means (among other things) that it would benefit them to hire people and produce more.

Higher taxes give the government the opportunity to reward responsible corporate behavior through tax incentives. If the rich already pay rock bottom taxes, there's no motivation to do anything other than count their money.

Why aren't people pointing this out? Am I wrong about it?

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librechik

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Tue Jun-07-11 01:41 PM
Response to Original message

1. Shhhhh! They don't want to do anything that might work

it might make Obama look good, and that would be bad. They feel just fine about holding on to their cash and letting the country go to hell. A lot of them don't live here anyway.

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Cant trust em

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Tue Jun-07-11 01:41 PM
Response to Original message

2. Do you get a tax deduction for investing in the stock market? nt

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former9thward

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Tue Jun-07-11 02:05 PM
Response to Reply #2

5. If you have losses you get a deduction.

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Tue Jun-07-11 01:42 PM
Response to Original message

3. People have pointed this out over and over

it's just ignored. It's even provable from past stats.

Businesses put the money into the business if they are taxed higher because it is not counted as profit then, it's a reinvestment.
Rather that is in building, expanding or buying new lines, it results in hiring more people.

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Atman

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Tue Jun-07-11 01:42 PM
Response to Original message

4. It's a proven theory. How do you think we got museums and stuff?

Edited on Tue Jun-07-11 02:19 PM by Atman

When tax rates are high, the rich have to do something with their money in order to keep it from the government. The National Gallery, Carnegie Hall, etc, etc, etc, were created by rich people sheltering their money from taxes. Society benefitted. Now, they just want to keep it all for themselves because they've learned they can use it to buy the government. But try explaining that to a millionaire Republican.

.

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Vinca

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Tue Jun-07-11 02:18 PM
Response to Original message

6. You're correct and it hadn't crossed my mind before.

Employees, their benefits and associated costs are write-offs. Create jobs - raise their damn taxes!

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jberryhill

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Tue Jun-07-11 05:06 PM
Response to Original message

7. In a word - yes

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