Friday, January 25, 2008

Taxes, Tax Cuts & the Wealthy

saw this link via Armed Canadian

Well I don't make much (I get paid hourly just to give you an idea) so this tax rebate is great for me. More money in my pocket is always a good thing. My problem is simple though. I don't like tax rebates. I want an across the board TAX CUT. You know, meaning everyone keeps more of their hard earned money from paycheck to paycheck. Hell, I'd like to get rid of Social Security and the Federal Income Tax entirely. That would force the government to cut spending.

This plan is political pandering in an election year and nothing more.

"Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments."

Great, so those who they deem "wealthy" don't deserve to get their money back. If someone making $12,000 is worthy of getting some of his taxes back someone making $120,000 is equally worthy. I don't believe in progressive taxation. Why should the "wealthy" pay ~40% while others pay only 20%? Why does the government think it's ok to punish people for their success? This is a country of opportunity, where a person can make something of himself regardless of social status. Why then do we punish those who've seized that opportunity and "made it?" Isn't that counterproductive?

My boss is a great example of this. He went to a small law school and had to apply more than once before being admitted. He graduated and several years later decided to start his own law firm. He had vision, drive, and was/is a great businessman. His firm includes subsidiary companies and has several offices in 3 different states. He's now a self-made millionaire and does quite a lot of pro-bono work.

People like Hillary Clinton want to raise taxes on the top tax bracket and on "evil corporations." She sees the wealthy as evil and opportunistic out to hurt the rest of us. What a hypocrite considering her husband is worth millions and she's nothing but an opportunistic parasite feeding off of him and his name. The fact is the wealthy drive our economy. We have the greatest economy in the world. We also have the highest number of multi-millionaires in the world. That's not a coincidence.

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