People can start their own businesses. I’m sure there are people who are only worth a hundred thousand or more that employ people, and possibly even some with less financial substance than that, but it’s my take rightly or wrongly, that it takes some level of wealth to employ others. And going after people with wealth is a very good way to have a very negative impact on jobs.
I’m not really buying the slavery comparison here. It may be valid, but I’m not seeing it.
You really think raising personal income taxes on the very rich would reduce the number of employees in business owned by the very rich?
Hogwash.
Exactly the opposite would result: increase personal taxes on the super rich, and they would expand their businesses and create more jobs.
Because they might as well put the profits back into their businesses where it can be written-off as expense rather than into their own pockets where it would be taxed at very high rates.
They will need to expand their businesses if they want to take home as much money as before their tax rates were raised.
You really think raising personal income taxes on the very rich would reduce the number of employees in business owned by the very rich?
Hogwash.
Exactly the opposite would result: increase personal taxes on the super rich, and they would expand their businesses and create more jobs.
Because they might as well put the profits back into their businesses where it can be written-off as expense rather than into their own pockets where it would be taxed at very high rates.
They will need to expand their businesses if they want to take home as much money as before their tax rates were raised.