Sunday, July 25, 2010

Expire Those Tax Cuts!

See, Tim Geithner agrees

The top 2% of households make more than $250k. I wonder what top 2% of individual incomes make.

When top earners pay less taxes, everyone else has to pay way more in order to balance the budget. Plus, when income accumulates when the top earners don't reinvest or donate a substantial proportion of their wealth, then there is less to go around for everyone else, and they are not stimulating the economy. Paying taxes is forcing (or "automating") reinvestment of income. Lower earners do not need to feel sorry for higher earners who may have to pay more taxes. Higher earners are looking out for themselves. Lower earners should learn from them.

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