Quoting TheNuge:" You are correct. Not only will they potentially reduce or not add jobs to their businesses, they ... [snip!] ... that their money USED to do in their local businesses. So, i suppose we shall see more "for rent" signs in empty store windows."
That is all that I see when I hear about raising taxes. DH isn't a high income earner, this year he made around 60k. Well, more than that, but thankfully all that we will need to include for his income when it comes time to file. We/he will owe taxes at the end of this year because of a screw up on his W-4, no other fault than our own, but he will owe around $2,600. Which is chump change in comparison to what high income earners have to pay, but it just makes me think about how much money is being thrown into the pile for politicians to disburse into what they see fit. There is so much talk about how to fix our economy, but it seems that the US is doing much to run it into the ground. I just do not understand how raising taxes will stimulate our economy. Taxing the rich leads to less job, which leads to more people on unemployment, which leads to more taxing. Until what? We have nothing left? How long can the "rich" afford to carry most of the weight until we completely collapse? Who will we have then? Will we begin to heavily tax the middle income earners because we can't tax those who earn little to nothing? Are we just headed in the direction to pay for everyone? Smurf the American dream, it's dwindling away at the rate we are going. DH and I want another child and we can financially afford another right now, but what about in the future? There are times when I feel selfish for even bringing my son into this mess.