7/23/2011

Myth: Tax the Rich

spending

Pittsburgh, Pennsylvania – July 22 –

One of the widely held beliefs among many citizens is, that the rich will provide freebies or anything they want. It’s a myth.

It’s a big time myth of the Democrats and President Obama.

I like Walter Williams, and I have linked to an article by Walter. There are a bunch of other links along the same lines.

A look at what has happened in the world in this regard will provide evidence of how good taxing the rich is. Did they tax the rich in Greece in their current financial trouble? Answer yes. Yes, but it was only a portion of the taxes raised. Taxes were raised on everyone. Then there’s Minnesota. Minnesota was shut down primarily due to a dispute over taxing the rich. The governor wanted to tax the rich, but he failed. He has reluctantly agreed to negotiate with the legislature.

When I receive comments, in the future, about taxing the rich, I’ll post a link to this article.

Now, let’s see how many comments defend taxing the rich. Let’s see how many Democrats want to use tax the rich as a solution to our debt problems.

President Obama has already adopted the idea of taxing the rich. Walter Williams and what happened in Greece refutes his idea.