you ever got a job from a poor person..??
"I GROW THEM SHORT"
Journal : http://www.rollitup.org/blogs/380148-ringsixty.html
"In that spectacular disaster the working class, the middle class and even a section of the business community could see the utter rottenness of private capitalism." ~George Orwell
Higher income taxes won't affect the poor, they don't pay any taxes on income anyway.
Higher taxes will have little effect on the rich, they will simply hire an army of accountants to exploit the loop holes placed in the tax code specifically for them by their bought and paid for political cronies (Dem and Repub).
Higher taxes will be levied on the middle class, as always.
Will higher taxes be offset by increased wages for the middle class? I don't think so.
Will higher taxes be used to pay down the national debt? Of course not, the notion is absurd.
No one has commented on how raising taxes would affect them personally, how it directly impacts the economy or if the revenue would be spent paying down the national debt!
if it went into boosting the economy or "shovel rdy jobs" (or any equivalent) then as a whole everyone will benefit as economy raises
if it purely went into paying back debt then everyone is in exactly same boat they are in now
dont forget as economy raises so does your ability to pay back said debt
A raise in income taxes would probably not affect me very much.
But i am curious as to which taxes would be raised how much, and with what destination in the Federal budget? There is too much unsaid here imo. cn
"My god ... it's full of stars!" - David Bowman neerGreen 2: Soilless grow
The only was I can see raising taxes will hurt is "maybe" higher prices on goods. As a business owner, it's very easy to make a large profit and pay little taxes. Most people will live out of their business, because as long as the money stay there and not in your personal account almost everything is a write off. My CPA forecasts for me, tells me how much to spend on business expansion and what area is 100% tax deductible and I start buying. I will admit, I don't like buying expensive equipment that I could live without but it's better than pissing it away. This system also is tricky if you plan on applying for very large loans, because on paper(balance sheet) you show to break even every year even thought your assets are insane. In 2007, which was my best year I bought three new vehicles and 4 pieces of large equipment, 100% write off. As a tradesman, the thing that is killing my business is illegal immigrants, and I am not attacking them directly per say its really not their fault its the state and federals because I have to play by the rules which is very expensive and they don't have any and when you say something to the loc/fed government they just throw their hands in the air and say they can't do anything. This issue is directly affecting me, because I can't compete with people that don't pay workers comp, lic fees, bonds, osha training, insurance and the list goes on and on. I have had to lay off 30 people in the last three years and my business has shrank drastically for this reason and I am getting a little tired of people saying it isn't an issue or start screaming racism when someone brings it up.