Friday, 13 November 2009
People give Back to Community when Taxes Lower
With Oba-Mao and CONgress on track to put more taxes on American's than ever before, the benefits of lower taxes deserves consideration.
The Heritage Foundation lists some of the benefits:
- High tax rates and complicated tax regimes hurt growth.
- High tax rates and complicated tax regimes encourage tax evasion.
- High tax rates can reduce tax revenue.
- Low-tax systems reduce corruption.
Keep in mind that these are general benefits. I don't believe any tax policy coming from the party of Obama/Pelosi will be a benefit to the people or business sector because of the errant spending of CONgress.
Aside from the national tax policy issues there are hidden benefits at the local level when business owners don't get squeezed by the tax man. Take for instance a $20 million dollar gift from a business owner to the small town of Townsend. This isn't Reagan's 'trickle down' tax policy at work, this is 'someone turned on the water faucet' giving.
Outside of the lecherous towers of New York most American's do give back to their local community when times are good to them financially. One can only wonder how much more they would give back if tax policy were favorable.
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