Where are people going to get jobs, when the wealthy, to avoid taxes, take stock options and corporate benefits instead of cash, or worse, leave?
Maybe you forget what happened when they enacted a massive luxury tax on Yachts. Far from making the rich "pay their fair share", instead the industry went dead. Orders for Yachts were non-existant, while the rich ended up ordering Yachts from other nations.
The very opposite of resulted. Instead of penalizing the rich, the middle and lower class were hammered by the tax because since the rich were not buying Yachts, hundreds of thousands lost their jobs in the Yachting industry as dozens of Yacht companies declared bankruptcy, and were left unemployed by the Luxury tax on the rich.
Why do you think things like Enron happen? It's because the rich, not wanting to pay unfair taxes on them, take stock options instead of income. Then when they find out the company is going badly, they do whatever they can't to preserve their stocks because they see it as their rightful income.
Why do you think when Reagan reduced the income tax on the highest bracket, it brought in more taxes? Because more rich people were willing to pay the lower rate. If you increase the taxes on the rich, they will move more of their income into tax sheltered options, reducing the amount they pay.
I read where a CEO raised his salary every time his taxes went up. The result was his workers pay rates remained stagnate so he could keep earning the same NET income he always had. The result of increasing taxes on the rich, always effects the poor.
You can bend it, twist it all you want. Numbers don't lie. Taxes always effect the middle and lower class, more than they do the rich.
