What money are we ‘sitting on?’
December 26, 2012
On Dec. 13 in this column, Tom Woods asked, “Is it ethical to raise taxes on those who can really afford it and are just sitting on the money or restricting funds to those who have nothing?”
I am confused as to what money he believes citizens and taxpayers are “just sitting on.” Is he referring to money in our 401Ks? Is he referring to money that we have carefully and frugally saved to assist our children or grandchildren through college? Is he referring to money we have invested to see ourselves through our old age without becoming a burden on either our children or our government? Is he referring to money set aside in health savings accounts? Is he referring to money saved in order to start a small business and hire employees?
Is it unethical to “sit on this money” today in order to care for ourselves and our family tomorrow?