On the contrary to popular belief, all "liberals" are not against rich people. I don't know about the situations of the other liberals on JU, but I can tell you right now that I am in the top tax paying bracket, and earn a considerable ammount of money from both the stock market and dividends. Despite this, I (and all liberals) continue to be hit from the right with propaganda about being rich people haters. Earlier today I read a post which generalized our feelings that the rich people were stupid. This post seemed to indicate that we don't understand that the wealthy drive the economy. I can't speak for everyone, but I can tell you that I understand this. The thing is, people that are wealthy understand that they can live without 1% of their income. I, like the next person, will try to keep my taxes as low as possible by deducting expenses wherever applicable, however I understand that the wealthy not only have a disposable income, we also have a larger dpenedence on the government. Without the protection of the government, our monies would not be safe from looters and criminals. Further, we understand that if our 35% tax rate was applied to everyone else, we would not be able to earn the kind of money we are acustomed to earning. Among other things I also understand that economically speaking it would be a good investment to pay of the debt if we can afford to, which by raising taxes temp. we would be able to, and the reason for this is becase the value of the dollar would skyrocket, meaning products would be come less expensive, we would experience deflation and our export-import ratio would even out. This would greatly benifit our economy. Paying off the debt would also save 350 billion dollars a year, which could be used to lower taxes eventually. Lastly, I understand that there are things that the government needs to do, such as provide a college education to everyone. I don't believe that high taxes for the rich are fair, but I believe they are justified and acceptable, and it is the price you pay for being the wealthiest people in America, and I at least am willing to accept that small price to pay.
