As someone opposed to 1. the tax increases, 2. the stimulus plan, 3. the government takeover of private businesses I feel like I should weigh in. I will be affected by both Obama's and Paterson's tax increases. As of October, we will see a significant increase in my salary. We are currently running the numbers based on estimates of my salary to see if it's even worth P continuing to work, not because we don't need it to live off of, but because we may see a net decrease or minimal increase in our available money with him working and the increase in the tax rate. We will be paying taxes of approximatley 47% of our income. Each year, I would paying in taxes more than what it cost to put me through medical school for four years. Not to mention the fact that when I die, any money we managed save for A, will be taxed again. Google "going Galt" and you will see stories of people doing just what we are. People are actually working less because it doesn't make sense to work more.
And my very hard earned money goes where? To the: Center for Grape Genetics in Geneva, NY (2.192 million dollars for an industry that generates $6 billion in sales yearly), Reference here . It has nothing to do with any one political party, there is pork spending on both sides.
As far as taxes not affecting the economy don't forget this: when tax rates go down, tax revenues go up. The more the wealthy are taxed, the less they have to spend. When they spend, it benefits more than just them. Think about who benefits from a really high end party - flowers (the florist, grower, supplier), caterer, food distributers, food growers, chair/table rental, people to park the cars, serve the food, make the food, etc.
Oh, yeah and before this increase, the top 5% of earners in this country already 50% of the taxes, while 50% pay nothing because they earn too little (25% of whom will be getting a "rebate" despite not paying a single dime in taxes). I have no problem with those making below a specified amount not paying taxes. What I am sick of is being labelled greedy and selfish because I want to keep a little more of the money I earn.
no subject
Google "going Galt" and you will see stories of people doing just what we are. People are actually working less because it doesn't make sense to work more.
And my very hard earned money goes where? To the: Center for Grape Genetics in Geneva, NY (2.192 million dollars for an industry that generates $6 billion in sales yearly), Reference here . It has nothing to do with any one political party, there is pork spending on both sides.
As far as taxes not affecting the economy don't forget this: when tax rates go down, tax revenues go up. The more the wealthy are taxed, the less they have to spend. When they spend, it benefits more than just them. Think about who benefits from a really high end party - flowers (the florist, grower, supplier), caterer, food distributers, food growers, chair/table rental, people to park the cars, serve the food, make the food, etc.
Oh, yeah and before this increase, the top 5% of earners in this country already 50% of the taxes, while 50% pay nothing because they earn too little (25% of whom will be getting a "rebate" despite not paying a single dime in taxes). I have no problem with those making below a specified amount not paying taxes. What I am sick of is being labelled greedy and selfish because I want to keep a little more of the money I earn.