"Saddle Up" before it's too late for America!

Traditional American Conservative Values
and the American Constitution

Why increasing taxes on
the rich is a bad idea...

Cowboy Patriot, Buffalo, Wyoming, USA ∙ e-mail: comments@cowboypatriot.com


About Cowboy Patriot

The Constitution

American Problems

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."

...Thomas Jefferson

Now that the federal government has squandered the tax revenue on wasteful and inefficient spending, the new pitch is to raise taxes on the richest people in the country to raise more revenue.  There are several issues with raising taxes on the rich:
  1. Most of the rich are business owners who invest in the economy, provide jobs and generate goods and services.  Raising taxes may render all of that activity less likely.
  2. Since the rich are business owners, higher taxes are a cost of doing business.  When my business costs increase, I raise the prices of my goods and services.  So the rest of us end up paying for most of the tax increase indirectly anyway.  It's funny that we don't even hear conservatives use this argument.  It's like raising taxes on diesel fuel when almost everything we consume is delivered by a freakin' truck.  Do you want to pay $15.00 for a loaf of bread?
  3. American businesses already pay a higher level of taxes than businesses in many other foreign countries - a factor that affects our businesses' ability to compete in the world market.  Barack Obama and the Spendocrats never speak of the total taxes businesses pay, only the income tax.
  4. The government is an inefficient user of revenue.
  5. The rich earned their money.
  6. According to experts, raising taxes on the wealthy would produce new revenue that would only cover SEVEN days of deficits.

  7. You can't increase wealth by dividing it!

Democrats, including the inept President, want to raise taxes to combat the deficit, which won't work.  That leaves it up to republicans to cut spending on massive government programs, leaving them to look like the bad guys.  Democrats won't even agree to cut what amounts to piggy bank change in comparison to the massive spending, unless it is from national defense.  Social programs will be non-existent if we are all subject to Sharia Law.

I'm all for closing tax loopholes that gives some businesses an unfair tax advantage, but I'm not in favor of any revenue increasing measures until the government changes its ridiculous spending habits.  Otherwise, the federal government will only squander the additional revenue.

More folks should research the "Laffer Curve" developed by Economist Dr. Arthur Laffer, which demonstrates that "increasing taxes beyond a certain point will be counterproductive for raising further tax revenue."  Read about Dr. Arthur Laffer's accomplishments.