Phokus
Lifer
- Nov 20, 1999
- 22,994
- 779
- 126
Taxing the rich doesn't affect the rich. It affects the poor.
You tax, say a boat, the rich won't buy.
But who makes the boats? The poor. So now they are out of work
But if those tax increases on the rich are used to keep taxes for the poor and middle class low (or even lower), then the net benefit is a positive - the rich have a much higher marginal propensity to save (regardless of taxes) and the poor and middle class has a higher marginal propensity to consume - by nature of having less money, you spend more of a percentage of your income.
