Saturday, July 30, 2011
Facts on Taxes
What people do not understand about taxes. 1. Lower tax rates increase state revenue in the longer haul. It happened under Presidents Kennedy and Reagan. Why? People pay less taxes, make more money, and pay more taxes overall. 2. Lower tax rates on the higher incomes does not merely help those people, but helps those who benefit from their increased profits--that is, the people they hire and the salaries they give. Remember this, next time you hear talk of "the wealthy paying their fair share." Their "fair share" (higher taxes) means a worse economy for everyone. Further, (3), why penalize success in business unless it is out of envy, which is a sin?