Wednesday, November 17, 2010
This works as well as any other theory
I'm thinking that letting the Bush tax cuts die for the rich (not to mention taxing them at an even higher rate) might actually help get the economy moving. I mean these people can live on the interest on their money even when the interest is one percent, but maybe if they have to pay more taxes, they'll be inspired to make risky investments in order to earn more money on their money. I haven't read this anywhere but doesn't it make sense, despite its counter-intuitive (because raising their taxes is supposed to make them stop spending, as lowering their taxes is supposed to make them spend more--all utter nonsense) quality? I mean they're the people who have money to play around with, but no need to bother if they can just sit back and rake it in.