Working hard to earn more money and then giving it away in higher taxes isn't financially intelligent, even if you do put some of it into a retirement account.
Sentiment: NEGATIVE
Cutting taxes for very high income people an average of more than $100,000 a year for people that make more than a million dollars a year is not an effective way to get the economy going.
Taxes are way too complicated, and people spend way too much time worrying about ways to get them lower.
It seems like the richer you are, the more chance you have of paying less tax.
The problem with being an employee or self-employed is you pay the highest taxes.
Taxes should be simple and fair... I'm not for increasing income taxes - if we even have an income tax.
People like me, whose income largely comes from dividends, should pay more taxes. The problem is that taxes aren't used efficiently.
Believe me, I understand that most higher rate taxpayers are not the super-rich.
Unless you are completely retired, earning money is the best form of wealth preservation.
But only 'rich' people by definition have the 'extra' money to buy things and invest to create economic growth. Do we really want to tax that 'extra' money away - and give it to the government to spend? Does that make any economic sense outside of politics and our emotional desire to make everyone suffer equally through these tough times?
So if we are really concerned about generating more taxes, we ought to be investing in our people, not taking away the kinds of resources that contribute to their ability to become greater taxpayers in this country.
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