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Economics 101 - Linda Style

lracette's picture
on November 13, 2008 - 3:40pm

Here is a little economic lesson for you.

Currently, those in the USA earning $250,000 a year pay about 30% in taxes. That means, they actually get to keep about $175,000. That's a lot of money being paid in. That's just for those earning $250,000 to $360,000 a year. It goes up after that. Oh yes, I believe some in this country give more than half their earnings for taxes. That's a lot of money out of their earnings.

Now, we all know who can invest money in this country - the wealthy.

Okay...so what if...Uncle Sam cut everyone's taxes by about 5%....everyone...I mean everyone...you, me, everyone.

So...what does everyone do when they have more money in their pocket...well, I'd probably spend it or save it........those who can afford it would probably spend or invest it....

Okay...what happens after that...

If you said...jobs are created, employees get raises (which, I might add, produces more investments, etc) and spurs the economy to grow...

Ding....ding...ding....

You just won the prize....

Now...raising taxes on those earning over a certain amount is economic suicide...and furthermore, I don't want to get more at the cost of someone getting less....let them keep more of what they earn.....

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