Why Tax the Rich? Because Then They Have To Invest
What everyone misses about taxing the rich: it forces them to invest in their businesses.
When the tax rates on the rich were super-high, in the past century, after WW2, that's how they saved themselves from paying much of it. By hiring workers, by investing in equipment, all kinds of things.
When you don't tax them at a high rate, their business becomes just another thing to cash out. Notice when tax rates went down, the dismantling of US industry began.
And the rich still lived lives of absurd splendor. But there were jobs and the US was an industrial powerhouse.
Don't give them this incentive, and they just wallow in the money.
"Eternity with Beelzebub, and all his hellish instruments of death, will be a picnic compared to five minutes with me and this pencil." - E. Blackadder, 1791 Questionable
words & pictures from John Linton Roberson SUPPORT US AT PATREON!