W

As I was going to say before pressing Enter; that’s just stupid. All the money spent on cars and this guy cannot afford a showroom garage? Perhaps he needs to work harder! Or am I missing the point?

The question is not whether those who desire success will work harder, of course they will. The question is what percentage of their efforts are lost do to their having to spend part of their time sheltering their income from the trough feeders in Washington.

This is the real reason tax cuts spur economic growth and tax increases puts the brakes on the economy regardless of the level of taxation prior to the cut or increase. When taxes are dropping less effort is put into tax-avoidance leaving more time for productive work. When taxes are raised effort that could be fueling the economy is lost to the black hole of “tax planning”.

DJ
Diversified Business Services

OK DJ, no body likes paying taxes but it’s got to be done… Who’s going to pay for Iraq to be rebuilt???

If your focus is on what tax you’re paying rather than what you’re earning then you’ve got problems. I never take serious time looking at where to hide my tax as that’s 20% - 40% of earnings. Maybe you should be focusing on the 60% - 80% that’s left!

Then again think how lucky you are in the US - Danes are paying 42% - 68% income tax.

Surely a fair taxation system is where those who earn less pay less, those who earn more pay more - can anyone relistically disagree with that principle? Cutting Taxes just reduces the amount to be spent on the services that many rely on for their very existance.

James

James,

The issue, which I have blogged about repeatedly, is that we as Americans have this great sense of entitlement in that someone always owes us something. So when we are asked to sacrifice or even put up with something we dislike for even a little bit we break down into tantrums.

The very reason for the collapse of the markets, credit industry, home mortgages and financials is that sense that if you want it you can have it, even if you can’t afford it.

The issue that I really take up with a lot of my richer friends is the issue of self-regulation. We suck at that. We suck at moderation, we suck at self regulation and the only thing we have to keep us even a little honest is competition - knowing that if we massively abuse our markets someone else will swoop in and take over.

So you know what, the entreprenurial spirit lives on. Many are talking out their ass these days about how they are going to quit their jobs, live on welfare, etc - that just doesn’t work in this country. Businesses do not grow or shrink on the emotions of their owners, they grow and shrink on the pure opportunity or threat presented in the marketplace and the availability of credits, workers with disposable income, etc.

-Vlad