Raising taxes on wealthy won't generate much money

2012-12-17T00:00:00Z Raising taxes on wealthy won't generate much money nwitimes.com
December 17, 2012 12:00 am

Here is something to think about if Washington gets their way to increase taxes on the so-called “rich”; this will generate less than $90 billion in new tax revenues.

Did you ever think how long these new revenues will run government? Less than one month. Our debt interest cost alone is $4 billion per day.

This is what they call Keynesian economic policy, the same policy that brought the collapse of Greece and Spain.

Raising taxes in a bad economy never works. That is why cutting tax rates across the board and reducing other federal taxes, like capital gains and corporate taxes, create jobs, stimulate the economy and generates more tax revenues. Proven by both a Democratic and Republican president in 1962 and 1986. All you have to do is the research, like me.

He who does not know his history is doomed to repeat it.

- Mark J. Leyva, Highland

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