Who does ‘tax the rich’ hurt most?
December 13, 2012
Now that the election is over and the heated rhetoric from both sides has subsided, it's time to look at some real life issues.
The "tax the rich" issue is important because most people just react to sound bites and don't think about the issue in depth.
The "rich," as defined by the current administration, is anyone earning over $250,000 a year. Now understand that most of those at that level are small business owners. Tax them more and what happens? They pass those increases on to their customers.
That goes for bakers, candlestick makers, butchers, dress shops, furniture stores and the list goes on.
This is a time of year when we should be thinking about the less fortunate among us,
So, who does that hurt the most?
What about all the rules and regulations that the federal government, the state government and local governments pass every year? They also have a cost that will be passed on to the consumer.
So, who gets hurt the most? The people who can least afford to pay increased prices, the people who are living paycheck to paycheck who must decide whether to get fuel to get to work or to feed their family.
The same is true of large corporations, whether it's big oil, railroads, computer companies, movie studios or any other. They will pass along their tax increases on to you, the consumer.
Their job is to make money for their investors, who, most likely, will own mutual funds which many in the middle class own. The corporations won't make less because they are taxed more, they will just charge more for their products and services.
Again, the poorest among us will be hit the hardest.
You may not be in that position, but there are millions of families across our country and here in Nevada County who have this problem every day. Every day!
So when some politician has a feel-good tax, think about who it's going to hurt, because it will hurt someone and usually it's someone who is poor.
This is a time of year when we should be thinking about the less fortunate among us, those that need a helping hand. Give what you can in time or money to the Food Bank, United Way, your house of worship or any of the many great organizations in our community.
You can make a difference in someone's life.
Stan Meckler lives in Grass Valley.