Warren Buffett has proposed that we tax the “super rich” more because he is willing to pay more taxes to help the county. A bill, commonly called The Buffett Rule, was introduced and defeated in the Senate.
By Tom Jones
I read an article today that discussed the proposed taxes on the rich. The article suggested that since the rich spent money on expensive cars, planes, travel, hotel rooms, clothes and yachts, they were helping the economy.
Taxing or stealing money from the rich is a wasteful division of funds. Government spends the tax money any way it wants. Money spent by the rich helps to stimulate the economy. For instance, take a first-class airline ticket bought the day of the flight. It might cost thousands of dollars. The rich person was willing to pay more to wait until the last minute to buy the ticket, to have a better meal, to be more comfortable and to receive better service.
The last-minute purchase of this first class ticket helped to reduce the cost of the tickets for the other non-first class passengers. It helped pay the cost of the plane and pay the wages of the airline employees. It helped to pay for the cost of providing the plane, helped to pay for the cost of servicing the plane and helped to pay the cost of maintaining the airport.
This is the correct way to assign funds. Let the people decide what they want and how much they are willing to pay. If the people don’t want the product or it is too expensive, it will eventually be discontinued.
In addition, taxation discourages investment. This would have a negative effect on our already depressed economy. Also, extravagant purchases by the rich later become everyday products used daily by all the people. Perfect examples are computers or cell phones.
Therefore, we should encourage the rich to spend more money and not increase their taxes. Increased taxes will only reduce their spending and encourage them to horde instead of invest and spend. If people like Warren Buffett feel that they should pay more taxes, they can just send more money to the Internal Revenue Service. I am sure the Internal Revenue Service will accept it. Better yet they could just donate more to various charitable organizations which would immediately benefit the less fortunate helped by that charity.
Candidate for Congress District 3
ClarkCountyIndependent American Party Chairman