Letter: Socking it to rich doesn’t help economy

Letter: Socking it to rich doesn’t help economy - LimaOhio.com: Opinion

Letter: Ottawa council mismanages money

Posted: Sunday, April 15, 2012 12:00 am

Letter: Socking it to rich doesn’t help economy

The president's emphasis on the Buffett Rule is an effort to dupe the people who have never taken an economics course and to play on their envy. The greed of the government is never satisfied, and we all know that the money earner can spend and invest his money in a more efficient manner than a bureaucrat in Washington.The money that might be raised by the Buffett Rule would be a drop in the bucket of our budget deficit, and because of its multiplication effect in the economy, removing this money would negatively impact the economy. Those with vision would have less to invest in the economy and less incentive. When a tax increase is imposed, the taxpayer adjusts and less money is realized from the tax than expected. Not only is the money sucked into Washington, the tax of bureaucracy takes a giant cut out of funds and reduces the actual money that is distributed to the president's favored green enterprises. But then it's other people's money.The satisfaction with socking it to rich will be short-lived because, next year, the rich will have adjusted and reduced the government's plunder. The economy will be reduced as well.Next year, when the Bush tax cuts expire and more of Obamacare kicks in, we actual taxpayers at every level will find out the real cost of President Barack Obama's rule if he is not dethroned.

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Posted in Opinion on Sunday, April 15, 2012 12:00 am.