Don’t bleed economy dry
The rich people need to pay more taxes. Wealth needs to be redistributed. This is the Democratic Party mantra. A spin to keep votes not based on facts.
Fact: The wealthiest top 5 percent, those making $159,000 plus, pay 59 percent of the income tax (based on tax year 2008). The top 5 percent bear a majority of the tax burden in America.
Fact: 43 percent of American households pay no income tax at all.
If you bleed the top 5 percent dry to redistribute wealth and pay for the 43 percent, there is no money available to invest. No money to invest in business, hire employees, spend and invest in the economy.
This isn’t rocket science. The facts are there. Before you buy into the age-old mantra of tax the rich, investigate the facts. This is an economy killer. Sure gets the votes, though.