Quote:
Originally Posted by Beemnseven
Can someone explain to me what is so great about increasing the taxes on ANY income level?
Do we really want to make it harder on corporations to do business these days? Don't we want to encourage economic growth, not inhibit it by nailing them to the wall with higher taxes?
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I can, Charlie Brown. Lights, please...
Here's one line of thought:
The overall health of the economy suffers when we have these huge deficits and a ballooning national debt. People are unwilling to cut the defense budget, Social Security, highway funds, head start, homeland security, etc. So we need more revenue. Claim: the middle class is the engine of the economy, so don't tax them--cut their taxes. The poor have no money to tax. So tax the rich. They can most afford to pay (yes, they're angry about it, but they won't lose their homes, healthcare, etc.). Further, doing this in the past has been good for the economy--progressive taxation is better economically then trickledown economics. So it's the right thing to do.
Is it fair to tax one group of citizens more than another? (This, I think, is among the most important differences between conservatives and liberals.) My feeling: yes, if it can be shown that the overall economy gets better, and so a rising tide lifts all boats, even the big rich yachts. Also, it may be that the rich should give something back to help the overall health of the nation where they've done so well (and, BTW, I'd certainly make charitable donations tax deductible up the wazoo).
Worry: excessive taxation is a drag on investment and undermines the motivational energies of the economy. That seems a good worry. Solution: find the progressive tax polices that have the least negative effect on these things. There are lots of ways to do this, but none of them fit in a message board post or a campaign add. So we need leaders who are smart enough to find the right fit here. I thought Clinton's team wasn't bad. I think Obama is more of this stripe than his opponents (and many of his friends) think. I think McCain is open to this (or he was), but since running to the right, he may not be able to get back to this reasonable sort of view. Hence, I prefer Obama on this issue.
If you're against ANY taxation, or any progressive taxation, neither of these candidates is for you. See Bob Barr, maybe?