Quote:
Originally Posted by spence
So if taxing the rich more will not prevent them from accumulating more wealth what’s the problem with generating more tax revenue to invest in things like infrastructure and education that benefit all Americans and make our country stronger?
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the problem is something you may have heard if, supply and demand and cost. when the cost of something goes up, the demand goes down. so at some point when you increasebtax rates, they suppress the economy to the point that tax revenue collected ( which is what matters), goes down. that’s rare i guess, but it’s happening in CT. we had a huge income tax hike, and tax revenue collected went down. that doesn’t help anybody, does it?
and i think it’s immoral to raise taxes if there’s still massive waste. cut all the fat first.
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