Tax Increases Again and Again Will Crush Prosperity

To bring this idea down to where we all came come to grips with it, that no matter how much money we want to take from the rick, there will always be more to take, is just how much blood can one whirring out of a turnip?
 
Raising taxes on the rich and for that matter on all of us is for one reason and one reason only and that is to spend more money on shoring up the progressive socialist base of voters. That this will cause harm to the country is not part of the equation, it's all about power, getting it and keeping it no matter the consequences.

As the saying goes, when was the last time someone was hired by a poor person, taking more and more money from the makers will ultimately decide the fate of our country. Once the takers have out numbered the makers, the agenda of the progressive socialist liberal Democrats will be realized and the decline of our country will compete.

With 49% of the population receiving government subsides in the form of food stamps, unemployment checks, social security, medicaid, medicare, social security disability and many other forms of support from state and local governments, we are nearing that point of no return right now.

Just think what it will take to turn this country around after four more years of progressive socialism that will drive unemployment into double digits, a foreign policy that allows our enemies to do what ever they want, the middle east and north Africa in total chaos and China in charge of the world economy, does anyone believe it will be possible to fix such a nightmare as this without a sacrifices that we have not seen in this country ever.

And how many of us will be willing to say, 'sure what ever it takes'? I believe the citizens that will be willing to do what ever it takes to get our country back will be few. Most will be willing to stand in the soup line blaming others for our catastrophic failures of judgement, certainly not themselves. No matter how bad things get, it will always be at the other end of the pointed finger, even to our complete demise. Always!

The liberal progressive mind cannot be compromised.

Taxing Rich Ignores Underlying Problems
February 21, 2013
Source: Veronique de Rugy, "Soaking the Rich," Reason Magazine, March 2013.

In the context of the political debate that surrounds America's fiscal crisis, Democrats often propose raising tax rates on the wealthy to increase revenue. This strategy is mistaken, says Veronique de Rugy, a senior research fellow at the Mercatus Center.

• In the short-term, tax increases might provide much needed revenue without damaging the economy, but in the long-term there are effects of tax increases that proponents ignore or do not comprehend.
• President Barack Obama has proposed raising taxes on couples making more than $250,000 and singles making more than $200,000, which represents the top 2 percent of taxpayers.
• Warren Buffet famously said that tax rates for those making more than $500,000 should be increased and that the rich will continue to invest and make money regardless of the tax rate.

Economists are unsure of how people's behavior changes when taxes are increased. If taxes don't influence behavior, higher taxes at least discourage people from becoming wealthy through entrepreneurship and career choices.

• Some literature suggests that, regardless of tax rates, individuals will work the same hours to earn the same income to support their families and the lifestyle to which they are accustomed.
• Other literature suggests that people work more hours when marginal tax rates are lower, a phenomenon that is readily identifiable as the difference between Americans who work more hours than Europeans who have higher tax rates.
• Studies have also shown that women are more responsive to tax rate changes.

Increasing tax rates may raise short-term revenue, but in the long-term it will keep people from entering the top earning brackets by disincentivizing hard work. Raising taxes is a politically expedient way to raise revenues without dealing with the major financial challenges facing the United States. The simple fact is that there are not enough rich people to pay for America's current spending habits.