Taxing the rich will hurt the economy? Baloney!

It is total hogwash that it affects small business investing!

By Jack E. Lohman

Let’s make this real simple.

I was a small business owner for 25 years. If I wanted to add more jobs or invest in new technology, I did it with pre-tax corporate dollars, not by taking an enormous salary that would be taxed. I screwed the taxman by investing company dollars rather than personal dollars. End of story.

The argument today that taxing the rich will hurt job growth and the economy is pure BS. It will only hurt the economy of the rich guys who got huge salaries and don’t want to give any of it to the government.

It might cost the making of one or two yachts, but tax increases on the wealthy will do more good than bad.

I don’t blame them, though. They’ve seen how the politicians can bargain their taxes away, giving subsidies to other wealthy guys who help fund their elections. Bribery, yes! Get payola out of the system and see where government settles.

Small businesses are not investing or hiring because the politicians have destroyed demand for product by fostering the outsourcing of jobs of the people who once bought that product. The politicians were paid via campaign bribes to pass bills like NAFTA and CAFTA, and the country now must pay the price.

Companies who would not themselves tolerate such a conflict of interest internally, are more than happy to have politicians on their payroll externally.

So the rich guys give cash bribes to politicians to stand in front of the camera and lie about the need for them to keep their money, and then the Pols vote for tax cuts in congress. All while the real small businessmen that create jobs worry about keeping their companies afloat.

What else would you expect from a corrupt political system?

5 Responses to Taxing the rich will hurt the economy? Baloney!

  1. Tom Degan says:

    I found your link on AlterNet. Great site you’ve got here, Jack. Keep ’em flying!

    Sincerely,

    Tom Degan

  2. Thanks Tom. Stay in touch. In fact, you can sign up to the newsletter at the top of page if you are interested.

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