When taxes become so high people just stop investing and companies stop hiring all together, what then?
Why invest in anything when the government is going to get 39.6% of dividends? Why invest in anything when the government is going to take 20% of it? Why die when the government is going to steal FIFTY FIVE PERCENT of all your money? Why will companies hire? Why will they invest in new inventory? Why will they create new technology? If you lived through hard times in the last recession, do you really think that anything is going to get better when its a true depression?
Asked By: Bethy - 7/19/2010
Best Answer - Chosen by Asker
This is why all the jobs are going to China because it's past just taxes. All the safety codes, regulations, red-tape, forceful unions that want impossible wages to produce cheap products... Are why companies go to other nations since the labor is cheap. Thus cheap products yield.
Answered By: Austrian Libertarian - 7/19/2010
Additional Answers (4)
The highest tax bracket has been as high as 90%+ .. much higher than today, and people continued investing and companies continued hiring people.
Answered By: Franco Potanco - 7/19/2010
Taxes are much lower now than they were during Reagan's administration and people worship that guy.
Answered By: г๏๓คгє - 7/19/2010
Let's ask all those wizard politicians in California what will happen... More
Answered By: d_dock_2000 - 7/19/2010
We are in a world of hurt. A national debt so high, it couldn't possibly be paid back. No fiscal backbone by anyone in this administration or Democratic party.
Answered By: Do what now - 7/20/2010
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