Bill O'Reilly: The ghost of Ronald Reagan
I sincerely wish more Americans knew the difference between tax rates and tax revenue. The two do not necessarily move in the same direction. Andrew Mellon proved this in the 1920's and it was also demonstrated by Presidents Kennedy, Reagan and Bush 43.
Wealthy people, who President Obama wants to tax at a higher rate, will change their behaviors, and move money to tax exempt holdings, thereby reducing the income that the IRS collects. They will put their money into investments that are taxed at a lower rate, or not at all. And that hurts the eeconomy as a whole. We need to induce them to invest in business and high earning opportunities that benefit the economy and increas tax revenues.
No comments:
Post a Comment