Quote:
Originally Posted by sebastian_dangerfield
One smug reply deserves another, I guess.
Did you read what I said about taxing the rich not providing anywhere near the revenue needed to cover what we owe and have promised? What do you propose, a 90% bracket?
Say this with me: "If you tax them, they will leave." It is fact. It is already happening even without increases. Raise taxes all you like, revenue will remain near constant.
(And don't cite me old studies showing the converse. Money's moving a lot faster, and the emerging markets are a lot bigger and more business friendly than they were historically, and that trend is accelerating exponentially. Whatever you cite will be hoeplessly dated.)
|
There was an article in the WSJ yesterday that several states are actively wooing hundreds of large companies away from CA based on corporate tax rates. Apparently a couple hundred left in 2010 and the trend is expected to continue.
