I’ll tell you what these numbers mean, and why the Democrats simply are so dense that they can’t get a handle on them.
The first is that the top 2% of income taxpayers, spend 33% of the money. Now think about that one. They don’t have to hire anyone, or run a business. They may just earn it by having a great job. They may have hit a jackpot in Las Vegas, or in some way earned more than 98% of the rest of the population. The Demos think they are some sort of evil entity, with all that money, but notice that the rich don’t keep much of it. They SPEND it, and no matter where they spend it, they put people to work. They might not HIRE people, but with their spending, they see that people are working, receiving salaries, and paying taxes. Restaurant waiters, cashiers, and chefs? Cruise ship personnel? Swimming pool builders? Fancy clothing sales people or seamstresses? Auto sales people, mechanics, gasoline station attendants? Furniture sales people, or manufacturers? When only 2% of the top taxpayers, spend 33% of the money, why would Obama and his gang want to raise taxes on them???
The next category is the top 1% of taxpayers. The very top 1% of wealthy people, pay 40% of all taxes paid! 40% of Americans pay no taxes at all, and it is said that between the 2% and 1%, 50% of all the money is spent by them. You say, “Well, they probably just sock it away, and don’t spend it all.” So what? If they put it in a bank, the bank has money to loan. If they buy stocks, the stock brokers have income from it. If they buy gold and silver, which is the smart thing to do, My kids and I have an income, but so to the mints which make the gold and silver coins and bars, the miners who mine it, the fabricators who stamp them out or pour them, and even the transportation people and U.S. Mail, who ship it.
There is absolutely NOTHING a rich person can do with their money, that does NOT BENEFIT EVERYONE. If they travel around the world, build a sumptuous mansion, or eat at “21” every night, so what? Don’t be jealous, and if you are, which is understandable, don’t think that they are harming the economy, and need to be taxed more. The absolute reverse is true! We’d all like to be rich, and few of us ever reach that point; but stop hating the rich, and believing that they harm an economy, when they don’t want to pay more taxes than they already do. Every dollar going to government, to pay welfare, bureaucrats, and regulators, HARMS an economy.
Do businesses pay taxes, which the liberals think should be raised? Of course not! They simply raise their prices to pay the taxes, which makes prices go up, and makes things more difficult to buy, thereby harming an economy. Raise corporate taxes? Same thing, only they may move out of America to avoid taxes.
Government doesn’t produce a profit, nor contribute to the economy. It is the PROFIT MAKERS and SPENDERS who contribute to an economy, Government, at any level, stalls or weakens an economy, and gets in the way of progress. Why start a business and hire people, if the red tape, regulations, and prohibitions, make the possibility of success, negligible? Do you really think that MSHA and the EPA, which made gold and silver mining virtually impossible, and are responsible for 90% of the mines being closed today, helped the economy? Silverton Colorado, Lead South Dakota, and dozen others I can think of, are dead in the water, now that the mines are closed, and depend on slim tourist business to weakly survive. There’s plenty of gold and silver in those closed mines, but regulations and regulators make mining impossible.
How many off shore oil rigs have left the area, and may never come back, with tens of thousands of lost jobs, because of the Obama stoppage of drilling? How many jobs could be created, if ANWAR drilling were allowed? Wouldn’t it be nice to be independent of foreign oil? We used to be, before government got in the way of private enterprise, and built huge interstates, which destroyed the railroad freight and passenger business. Now we have hundreds of thousands of tractor-trailers, getting six miles per gallon, eating oil by millions of barrels every day. Railroads can haul a ton of freight a mile, for about a quart of diesel, in a full train.
Does anyone really believe that strict regulations on what a new car must have on it, thereby raising its price by thousands of dollars, has helped the auto industry? I can still remember the regulations prohibiting fins on the rear end of a car, because someone might hurt themselves by leaning on them. Other than killing children and ruining ears, have air bags really saved lives for less than a few million dollars or a lot more, per life? Shouldn’t they be an extra accessory, if a buyer wanted to pay extra for them, rather than compulsory? The list is endless, and America is wallowing in the dust of buying other’s output, with printing press money, which is failing fast. The Tea Party is totally correct, when they say that we have too much government. The Tea Party had great influence on the elections, and America should be ever so thankful.