Reuters Poll: Most Want to Keep Bush Tax Cuts



WASHINGTON – Only one-third of Americans support President Barack Obama’s proposal to allow tax rates to rise for the wealthiest, a Reuters/Ipsos poll found on Tuesday.

Nearly half of those surveyed think the tax breaks, which were enacted under former President George W. Bush, should be extended for everyone, including those who make more than $200,000 a year and would be excluded under Obama’s proposal. Source

Commentary

Is it any wonder that people think taxes shouldn’t be increased in this terrible, government burdened economy? Why would we want to take money away from the rich or anyone? For those of us who have any business sense, we know that in order for us to sell products or services, especially the ones that are higher in cost, we NEED the wealthy and those who are willing to spend more.

Raising taxes on the rich and on corporations would be a nail in the coffin to turning this already pathetic economy into a complete depression.

When will Democrats learn that the largest reason that job-providing corporations are leaving the United States is because its the second largest corporate taxer on earth on corporations? They just can’t compete anymore. Businesses are relocating to other countries, like Ireland, where the tax burden isn’t so huge.

How do we  expect businesses to be able to hire people, keep their products competitively priced and thrive when they’re having to pay a much higher percentage of their income in taxes than businesses in other countries? On top of that, labor unions in this country add to that to make it much more difficult for American businesses to be able to compete internationally against businesses who have lower taxes, don’t have the expense of dealing with unions (lawyers, higher payroles, expensive regulations, etc.) and have easy access to cheap labor.

The least this government could do would be to make the tax burden less. Remember, businesses don’t just produce products for free and then coast to profits. There is usually a very large initial investment to research and develop a product. Then that company pays it employees who assembled, planned and marketed that product.  So the company is out a large amount of money before the product even hits the shelves. 

The cost to develop the product goes into what its price will be to consumers. So when a company is taxed at the second highest rate compared to its competitors, it’s already at a large disadvantage.

So while President Obama sits back and talks about “creating jobs,” he’s wanting to take money away from the people and businesses who fund those jobs.

People who know math know that it just doesn’t work that way. If Obama and the ruling class lowered taxes on businesses, they could afford to hire more people and charge less for their products and services. Those two things combined would pull the United States out of this recession.

But until those in charge get a grasp on reality, we’ll struggle in the mire of a government that we can’t afford.

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