TAX THE RICH!

15 04 2011

Liberals like to chant this slogan over and over again.  But do you really know who the so-called rich are?  They are probably those neighbors down the street who have a nice 3 bedroom 1-1/2 bath home and 2 or 3 children.  And they both work at full time jobs. The government has repeatedly downsized the amount of money a person has to have in order to be classified as ‘rich’.

And then the liberals also think that anyone who owns his own business is automatically ‘rich’.  Not so.   A person who owns his own business, no matter what it might be has to struggle constantly in order to meet all the bills required of those who own their own businesses.  This includes payroll, taxes, accountants, automobile expense, plus a whole lot of other expenses.  There are really too many to list.  Just think about what you have to pay in the way of upkeep  in your own home and then imagine what that business owner has to pay.   And, you might say, that he doesn’t really need an accountant either.  But yes, he does.  The IRS demands that he have one.  He is not allowed to do his own taxes.  Too much trouble for them to keep up with him, so he has to hire and pay for an accountant.  That might also require office space.  And someone is going to have to pay all those utilities that keep going and going and going.

And then, to top that off, if he shows a profit at all, he has to pay 1/2 in taxes.  Now, just imagine, you work constantly, 24 hours a day, lying awake at night trying to make sure you have sold enough of your product and have enough money to meet your payroll and those payroll taxes that keep going all the time.  In case you didn’t know it, the payroll taxes have to be paid in advance weekly at the local bank by each and all businesses, no matter what size they are.  And then when it is time for the yearly taxes to be paid, the government reaches right in the door and takes  half of what you have worked so hard for.  And then, if you are a corporation, they take another big chunk out of what the corporation has to report as income.  So, the small businessman is in trouble from the very beginning.  He has to make far more money than expenses in order to make a profit at all.  And remember, he has a family at home and expenses just like everyone else does.  Then why is he in business?  In most cases, it is because this is what he is driven to do with his life.  He wants to be his own boss and loves what he is doing and wants to provide for all those employees.  That is what his life is all about.

And when it comes to providing for all those employees, just imagine what that cost is.  Insurance, a man can’t work if his family is sick; overtime in order to meet deadlines; extra help in busiest times, vacation time, sick leave, etc.

Next time you hear someone talk about taxing the rich, get them to explain just exactly what it is they are talking about.  Remember that whatever money you manage to pinch and save in order to plan for your retirement may some day make you ‘rich’.  Do you want to pay all those extra taxes?

A friend won $50,000 on a lottery ticket recently.  He complained that he only got $20,000.  His comment was – I won $50,000.  Why didn’t I get $50,000? Because automatically, the government comes in and takes at least half of whatever it is that you win.  Period.  Unearned income is what it is called and it is very expensive.  For instance, if someone owns rental property, then whatever he makes off that is considered unearned income, – highly taxable.   A person may have investments that pay a dividend, that is unearned income – highly taxable.

Think about that phrase that all liberals automatically chant.  Maybe they are wrong again.  They usually are.

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