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What happens when you tax the "rich"?

Face it, we are in bad shape and getting no better. Taxing anyone more at this time is crazy. This is what happens when you tax the rich. We already see these so called rich are not spending and they are not hiring. Do you think letting the Bush tax cut expire for these "rich" people will help the economy?

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Asked by itsmesteph11 at 9:09 AM on Aug. 2, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (86)
  • It seems they just get richer no matter what they do. They know all the tax credits and loop holes.

    Answer by MyAngel003 at 9:16 AM on Aug. 2, 2010

  • i think the only thing that will help this economy is if people stop TAKING ADVANTAGE of fs, medicaid, and cash assistance. too many use this to live their lives and have been since before this happened. if you can't afford them, don't breed them!

    Answer by angevil53 at 9:22 AM on Aug. 2, 2010

  • ^^ No, the rich become more conservative! They hoard their cash and invest in what is best. (I wonder how the gold market falls into place here)

    Obama wants to tax them more? Is he crazy? Why should they be the ones who bail everyone out? That is what our government is supposed to do! Oh wait....that already happened! Wow, did a lot of good!

    Answer by thundernlight at 9:23 AM on Aug. 2, 2010

  • Nope. just further hurt us. Many dems are not wanting to let them expire.

    Answer by Carpy at 9:25 AM on Aug. 2, 2010

  • Last I checked, poor people weren't operating businesses or hiring people, let alone giving significant amounts of money to charities...but I could be wrong!! LOL

    Answer by LoriKeet at 9:26 AM on Aug. 2, 2010

  • Who do you call "the rich"?

    75% of the jobs in this country come from small business owners.

    Will their taxes increase if the Bush tax cuts are allowed to expire?


    Will these small companies try to grow/expand, thereby hiring people or calling workers back?

    Not a prayer!
    That's from the front line.

    Answer by mustbeGRACE at 9:29 AM on Aug. 2, 2010

  • Cutting taxes never works, Its the VOODOO economics George Bush railed against.

    It doesn't grow the economy enough to cover the cuts. It adds to the deficit, a few HUNDRED MILLIONS a YEAr for the last 8 years. Alan Greenspan said it would be a disaster to NOT end the TEMPORARY tax cuts


    Answer by sweet-a-kins at 9:30 AM on Aug. 2, 2010

  • And you know, the "funny" thing about the "rich/wealthy" people, is MOST of their money is INHERITED WEALTH, it is not TAXABLE income!! THAT is why they don't care about raising doesn't affect them on their overall wealth, because they don't generate that much income!!

    The MAJORITY of wealthy people in this country either were born with silver spoons in their mouths, married those born with silver spoons in their mouths, or got lucky marrying the person who inherited great wealth. Very few wealthy individuals THESE days are self-made!

    For some perspective, celebrity types would be considered "rich," the Kennedy's would be considered "wealthy!"

    Answer by LoriKeet at 9:32 AM on Aug. 2, 2010

  • sweet-a-kins

    Answer by sweet-a-kins at 9:32 AM on Aug. 2, 2010


    LOL..Sarah Palin wrote on her hand again ( about tax cuts)..that lady!


    Answer by sweet-a-kins at 9:34 AM on Aug. 2, 2010

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