Raising taxes on the rich is a terrible idea, would sink the economy
Polls indicated that Hillary Clinton won the first debate. Really?
What were her talking points? Trump’s tax return; the birther issue; and Trump speaking unruly about a woman who, it turns out, is a porn star.
These were non-political distractions to avoid discussion of real issues and Hillary's criminal activities.
One issue Hillary discussed was raising taxes on the rich. Our country is $20 trillion in debt.
Hypothetically, if taxes were raised 10 percent on 50,000 rich people and companies who have a combined wealth of $5 trillion, that’s an additional $500 billion a year. At that rate, if maintained, the $20 trillion would be paid off in 40 years.
The rich, however, would leave the country and take thousands of jobs with them. Not only would there be fewer taxes from the rich, you would also have laid-off American workers who wouldn’t be generating tax revenue. Raising taxes on the rich is political folly.
What did those polling numbers tell me? That Hillary's talking points are more important to American voters than the real issues.
What say you?
Ronald Wing, Surfside Beach
This story was originally published October 18, 2016 at 3:11 PM with the headline "Raising taxes on the rich is a terrible idea, would sink the economy."