Dana7360
Diamond Member
- Aug 6, 2014
- 15,147
- 13,596
Also, I had read in the general sense....higher taxes make businesses smarter.... I know that seems dumb, but .... when they owe higher taxes, they find ways to spend their money, that is tax deductible, like paying their employees more or hiring or finding ways on expanding their businesses.... they'd rather do that, then just hand their money from profit, over to the govt when taxes are high.... is what some think....
I've been talking about the benefits of higher taxes for decades.
I've put it on this board and it's mostly ignored.
That was one of the tools we used to use to keep jobs in America, kept inflation in check, helped to keep wages at a living wage level, helped R&D and expansion, helped prevent unemployment and kept greed in check.
When greedy people know that most of what they take from a company beyond say 3 million in a year goes to the government. Those greedy people don't take more than 3 million from a company in a year. When greedy people know that their unearned income will go to the government they don't demand companies generate high profits to pay high dividends.
That tax policy worked for nearly 80 years in the US. Until Reagan. When he lowered the tax rates our jobs started leaving the nation. Business decreased their employees by a third to a half.
Employees started losing benefits. Inflation on just about everything set in, wages for everyone but the ceos, executives and stockholders stagnated and still stagnate.
Ambition and hard work are very different from greed. Ambition and hard work benefits everyone. Greed harms almost everyone.