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StumbleLETTER TO THE EDITOR:
Luxury tax winds up hurting middle class
Saturday, Sept. 12, 2009 | 2:02 a.m.
In response to Ed Loughlin’s letter to the editor in Friday’s Las Vegas Sun about taxing rich Americans for their luxury purchases:
This sounds like a great idea, to tax the rich for their purchases, but this was tried several years ago. The rich stopped buying the yachts, cars, jewelry and other items that were considered “luxury” items.
The result was that thousands of middle class Americans who made, distributed and sold those items lost their jobs, and it took Congress two years to drop the tax and longer for those middle class Americans to get their jobs back.
The “punishment” of taxing items for the rich results in consequences for the middle class. If we put a “luxury” tax on the rich, who really pays?
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hey stevie boy...
there is just one stat you need to know...
the top 1% owns as much wealth as the bottom 90%...
got that skippy...
we must tax the super rich to dig out of this hole...
period...
end of story...
and guess what else skippy...
trickle down economics does NOT work...
it is a complete and total failure...
greed always kicks in and nothing trickles down...
period!!!
end of story!!!
We don't need workers making things for rich people. We need workers making things for poor people. Who pays the workers if the poor can't buy? Don't worry, this administration tells us we can have everything we want and it doesn't cost anything.
To quote Bill Clinton in the primary, What a joke! This is the biggest fairy tale every told.
We already tax the rich more, just look at the tax scales.
This is a blind side maneuver (flanking) by the rich, to otherwise call for a flat tax.
Under a flat tax the rich pay less. I'm flabbergasted at the short sightedness of our readers who swallow this one.
Poor people are poor because they are either stupid or lazy but usually they are both. The nice thing about capitalism is that people almost always end up with what they deserve, unless government gets involved.
Bird: GREAT POST
The Republicans greedy days are over.
"Poor people are poor because they are either stupid or lazy but usually they are both."
Then you must not be lazy, jlb.
For the anti "rich" crowd:
If I have more money than I need to pay my wants and needs, what can I do with that money?
One, I can continue to spend it and therefore the person(s) who provide me the product or service benefit.
Two, I can save it. If I save it it goes to a bank and then the banker loans it to people who want to buy things or build things, or start businesses. The benefit there should be obvious.
Third, I can invest it. Again, obviously, the businesses and the people the businesses support benefit.
Lastly, I can put it in my mattress. There, no one else benefits but I do not know too many "rich" people who would do this.
So, tell me what is wrong about being "rich" and why "trickle down" economics doesn't work? Also, tell me how people with little or no money can contribute to this system?