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Thursday, May 10, 2012

Enough with the rich bashing!

It is easy to blame the nameless faceless "rich" for all that ails the world.  Simple economics tells us that the top earners are also the top investors.  Investment is what drives employment and wage increases.  Our tax system is one of the most aggressive and most progressive in the world, meaning that the more you earn, the more you pay.  Yes, there are a select few that take advantage of loopholes that pay a lower percentage of their earnings that some lower wage earners, but even these individuals still pay literally millions of dollars each year in taxes.  The money they don't pay, in large part, gets reinvested into the economy in the form of investment or savings, both of which drive economic expansion, including employment.  This witch hunt for the "rich" has got to stop, so we can focus on the real issues, which include a bloated government that wastes billions each year, a over-bureaucratized healthcare system again that wastes billions each year, and a tax code that punishes success.

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