I feel like I’m alone in this opinion, so I’d like you all to weigh in with your opinions. Please keep comments nice.
I feel like raising taxes on only the richest (iethose who make over $250,000) is like penalizing the rich for working hard to get where they are. That’s not to say that there are some that are wealthy that didn’t work hard to get where they are.
I fit into the middle class category and we’re not even half way to the $250,000 mark for. However, let’s assume I finally managed to let a book go, it was published, and I hit the best seller’s list. Then, let’s assume that the higher taxes go into effect for the upper class, and assume I make $250,000 that first year. The government takes 65% in taxes, that leaves me with $87,000. Why should I bother publishing if I will be left with so little? If I choose not to publish because I will end up with so little of it after the fact, the government just lost some potential tax revenue they may have had if everything in my scenario came true.
This is the way I look at it. Remember, under Sen. Obama’s proposal to raise taxes on only those making more than $250,000, I don’t have to worry right now.
So, weigh in. What do you think? Why is taxing the rich more a good idea? They already pay 35%+ in taxes (and I pay only about 15-18%). I’m not saying I want to pay more taxes, I’m just asking why there’s a sliding standard.