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Senior Contributor

Higher taxes are good for the economy?

Read an opinion that higher taxes are good for the economy and society in general.

 

The theory is that higher taxes on the rich force them to invest rather than spend or sit on their money.  Investment in new business creates jobs and opportunities.  Because there are jobs and opportunities society becomes more stable.  Education becomes more valuable and people become more willing to get an education so as to access these new opportunities.

 

Interesting thoughts but how does it change social mores of racial and ethnic groups?  And what does one invest in that would not be a loss?

 

 

28 Replies
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Senior Contributor

Re: Higher taxes are good for the economy?

No thoughts?

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Senior Contributor

Re: Higher taxes are good for the economy?

OK! Isn't investment a form of spending?


@wehav wrote:

The theory is that higher taxes on the rich force them to invest rather than spend or sit on their money.

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Veteran Advisor

Re: Higher taxes are good for the economy?

My thoughts would be this:
If higher taxes, and bigger government caused booming economies, California and North Dakota need to switch places, in their ranking of unemployment rates, and overall economic health.

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Senior Advisor

Re: Higher taxes are good for the economy?

Certainly, so lets demand sales taxes on their purchases like we do Mrs. Housewife on her childrens clothes.

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Honored Advisor

Re: Higher taxes are good for the economy?

Taxes aren`t the problem, if you trust your government not to sqander it...I don`t.  If I saw a government eliminating the department of education, totally gutting and dressing the Departments of Labor and EPA and ummm ummm oops! I forgot the other two.  Anyway then sure raise my taxes10%, 20% gulp 30% what the hell I`m a patriot.   Basically right now I`m solid footed in the "starve the beast" camp.  Ron Paul, Pat Buchanan, Ann Barnhardt, Michele Bachmann ..I trust them with the purse strings.

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Advisor

Re: Higher taxes are good for the economy?

Most arguments I've heard the higher taxes were good for the economy involved the government spending money into the economy that people would otherwise squirrel away. Nearly everything the government does is a failure, why would a centrally planed economy be any different.

 

 

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Veteran Advisor

Re: Higher taxes are good for the economy?

I can't say if higher taxes are good or not for the economy but I do know that cutting taxes and then starting to wars is NOT!!!

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Senior Contributor

Re: Higher taxes are good for the economy?

How is increasing the cost of doing business going to effect the economy?

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Senior Advisor

Re: Higher taxes are good for the economy?

A tax increase takes money out of the economy so congress and the president can decide how and where to put money into the economy. Hello freddie mac, fannie may, and solyndra.