Golden eggs and Taxing the Rich

September 7, 2010 · Filed Under Uncategorized 

PORT WASHINGTON, N.Y. (MarketWatch) — Raising taxes on the top 2% of Americans is tantamount to killing the goose that lays the golden eggs.

The administration wants to let the tax cuts passed under President Bush for the wealthiest Americans expire at the end of this year, while keeping the cuts intact for everyone else.

Effectively this is a tax increase. And while it may seem fitting for the “rich” to pay more in these days of humongous budget deficits, in reality it might well exacerbate our deficit problem rather than ameliorate it.

http://www.marketwatch.com/story/killing-geese-that-lay-golden-eggs-2010-08-10

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