How do the Rich/Wealthy keep getting Rich you know the saying the Rich get Richer my question is how do the Ri?
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How do the Rich/Wealthy keep getting Rich you know the saying the Rich get Richer my question is how do the Rich stay Rich if they are paying themselves less to avoid higher taxes ? Raising Taxes Is Good for the Economy by Adam Eran – Observes Beinhart: “With high taxes, the only way to retain the bulk of the wealth created by a business is by reinvesting it in the business — in plants, equipment, staff, research and development, new products and all the rest. http://www.laprogressive.com/politic...or-the-economy Thom Hartmann: But it seemed, just common sense. I remember back in the ‘80s, I owned a business, International Wholesale Travel in Atlanta, Georgia. That business has, since we sold it done over 200 billion dollars in business. And there was a year when we were doing really, really well and I could either write a big check to myself or not. And I decided not to, because I didn’t want to pay the increased taxes. I put it back into the business. How can cutting taxes on rich people, on high income people, do anything other than encourage them to take the money out of their companies, out of their businesses, and buy fancy paintings or yachts or put it in Swiss bank accounts? How conceivably could that help the economy? http://www.thomhartmann.com/blog/201...ate-jobsreally If we didn't really need the money, that was an incentive to keep it in the company and to find ways to spend it that took it out of the taxable profit column but increased the value of the company. High taxes create an incentive to reinvest profits into long-term growth. With high taxes, the only way to retain the bulk of the wealth created by a business is by reinvesting it in the business -- in plants, equipment, staff, research and development, new products and all the rest. http://www.alternet.org/economy/106979/
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Answer:
This is a most excellent theory and I agree with it and liked the links. Alas human nature will prevent it all happening.
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