I believe in a progressive income tax, but my concern over raising taxes on the rich is that it can put people out of work and not raise as much tax money as expected because unemployment benefits and other cost consequences take place.
In 1991 the Democrat congress raised the yacht tax and it just ended putting people in certain states out-of-work. This is a post from 1991 from a blogger, but a Florida congressman was also concerned.
The workers at Cessna and Lear must be in fear of losing their jobs. And one could wonder why pick on yachts and private jets. . .why not a special tax on any automobile over $20,000 or a special tax if you shop at Nordstrom's vs. Walmart?
No comments:
Post a Comment