By freeing up money to expand businesses instead of having it confiscated by the government for 'redistribution.' Bear in mind that this is my money that I earned by playing by all the rules. It's just a matter of whether the government takes it or not. Although I do not consider myself rich, you probably do, despite the fact that I live modestly. I don't drive a Lexus; I have a ten year old Chevy. I have almost enough money to expand my business into the next state over. I have eight trucks now and have a presence in every city of any size in my state. I would like to expand into the next state where I believe I could get five more trucks. I already provide jobs for fifteen people other than myself These are above minimum wage jobs, though not really ritzy ones. I work one of the trucks myself. I could probably hire up to 8 more people and carry them for six months hoping they would become profitable within that length of time. It's a big risk for me, but I've done this for awhile, and if my business plan is sound, it should work. That would "expand the economy," wouldn't it? On the other hand, if I spend this money and for some reason the business fails to take off, I could lose the entire business. It's not a sure thing.
But right now I don't know what this confiscatory government is going to do to me. The amount of extra taxes they say they want to take from me will
make the difference in whether I can do this or not, whether I can afford to expand. My "gains" would still be modest, but I would be providing jobs
for a few more people.
Now I can do three things with my money, which I earned for myself. I can save it. I can invest it, or I can spend it. In the fiorst two cases it is
being made available to others who will pay me a modest dividend to use it to perhaps expand their own businesses. In the third case I'm the one
doing the spending. If my money is confiscated by the government, what are they going to do with it? They may give some of it away to people who did
not earn it at all, thus making these people more dependent on government than themselves. Or they might use it to create yet another bureaucratic job
for someone to make a whole oot of money making life more miserable for me with more regulations. One thing for sure, tthey will not be creating new
wealth. They will be sucking it up.
So the phrase "tax breaks for the rich" is an emotionally loaded term. "Rich" is a relative term, especially when 47% of the people pay NO taxes
whatsoever and the top 10% (that's who we are talking about here) pay nearly 70% of ALL the income taxes already.
Here's the brerakdown/. So I'm already paying 70% of all the taxes, so I say how
about you chip in a couple of points yourself. You're getting a free ride. You're not earning; you're taking. And "tax cut" is a misnomer, too.
What "tax cut." It's a tax RAISE we will be experiencing here. There is no legal tax rate. Less taxes means more money in your pocket. More taxes
means less money in your pocket. That's why it's so hard to give a tax cut to anyone BUT people who actually earn some money. half of you don't pay
any taxes to begin with.
So here's the bottom line. I don't need this. I'm working 70+ hours a week with precious little time to jump on sites like this for some comedic
relief and entertainment. I'm just about at the point of saying, "Screw it!" If I sell my trucks and my equipment and my inventory I might, just
might, have enough to pay off my house. Tnen I can sit back and complain about "the rich" not paying their "fair share" (as in 70%) of their
That's what socialism does to you. It saps your willingness to excel.