I have heard Democrats say that higher taxes on the Rich/Wealthy means that the Wealthy business owners will k?
I have heard Democrats say that higher taxes on the Rich/Wealthy means that the Wealthy business owners will keep his money and or profits inside his businesseses and that will create Jobs could anyone explain how this works with the corporate tax I have heard Thom Hartmann say this ? Thom Hartmann: But it seemed, just common sense. I remember back in the ‘80s, I owned a business, International Wholesale Travel in Atlanta, Georgia. That business has, since we sold it done over 200 billion dollars in business. And there was a year when we were doing really, really well and I could either write a big check to myself or not. And I decided not to, because I didn’t want to pay the increased taxes. I put it back into the business. How can cutting taxes on rich people, on high income people, do anything other than encourage them to take the money out of their companies, out of their businesses, and buy fancy paintings or yachts or put it in Swiss bank accounts? How conceivably could that help the economy? http://www.thomhartmann.com/blog/2010/10/transcript-thom-hartmann-asks-c...
Asked By: - 8/1/2011
Best Answer - Chosen by Asker
Well your pretty close on this.....except the idea that the rich business owner will keep the money in his business. In fact, by lowering or not increasing taxing the wealthy, it means they have money to expand their business or start new businesses....this means hiring more people and creating new jobs... More
Answered By: michael_lovin - 8/1/2011
Additional Answers (3)
Higher taxes on the wealthy business owners will only give more money to the government, and, thus, defense spending, the entitlement abusing lower class, and whoever elses' laziness the government is enabling... More
Answered By: cold - 8/1/2011
If that is was Thom Hartmann said they I suggest you never read or listen to him again. He is a complete idiot.. Your first two answers have it right. Just give them best answer and move on.
Answered By: Jim Bay - 8/1/2011
This is knowledge the Republicans do not want spread. You can fully expect to have this Question hit with a "Violation Attack" within hours of it being closed unless you give one of their dismissals the best answer... More
Answered By: skipjack2012 - 8/1/2011
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