America’s Tax Hike In Perspective

Posted: January 2, 2013 by ShortTimer in Economics, Tax, taxes

From ZeroHedge:

Tax Hike In Perspective

Beyond this, remember that those taxes are specifically on those who are wealthy enough to create jobs, and with the $1 trillion in Obamacare tax hikes, and more economic uncertainty due to regulations, there isn’t going to be any growth to even pay existing taxes, and there will be contraction in some sectors.  Higher taxes don’t foster growth, and hurting the economy through higher taxes means less actual government revenue.  Due to uncertainty, businesses are already sitting on cash because it’s not worth the risk to spend money they have on risky ventures that may be knocked down by government regulation or those same higher taxes.

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