Tax The Rich?
Sunday, June 19, 2011
I rarely get political on here because, well, I don't like controversy. But I've been thinking about a couple of things lately. That sounded wrong, I think a lot, but lately I've been thinking about this argument of "taxing the rich."
My business is general contracting. Most of our clients are extremely wealthy. Sometimes we're the general and sometimes we're the sub.
The company is now working on several projects for some very rich clients as subcontractors and we have several smaller general contracting jobs going on as well.
One of the sub jobs is for a young couple that are self made millionaires. They're spending money, lots of money. The drapes in their home alone will be around $200,000-$300,000. Someone had to measure for the drapes....job. Someone has to make the fabric.....jobs. Someone has to sew the drapes....jobs.
There's a designer....job. There are a myriad of subcontractors on this 13,000 sq foot house, jobs, jobs, and more jobs. There's a crap load of supplies needed for this project, more money into the economy.
This one family alone is creating hundreds of jobs for hundreds of families. Hundreds of families are able to pay their bills because ONE family has incredible business sense and has built a winning company. This one family is making it possible to get hundreds of families off of unemployment and back in the workforce. Those families are paying taxes, creating more revenue. Those families are also able to buy more of what they want, not to mention what they need.
So let's tax this family heavily, because after all they obviously have more money than the rest of us, that's just not fair goes the argument. Let's punish them for their business creativity and let's make sure their income is overly taxed. There goes their ability to create these jobs. They'll hang on to more of what they have. All of those revenue creating jobs are gone. More people will continue to be on unemployment and welfare draining the US of much needed revenue.
I know this isn't a new argument, but it sure hits home.
