Warren Buffet: Eat the Rich, Taxes and the Road to Austerity - Page 2
In this case if we choose to tax the rich for a Robin Hood situation whereby the government is the sieve through which the dollars of prosperity will filter through is ridiculous. The first problem is that this assumes that the rich are hoarding their cash instead of investing it into worthwhile new enterprise. Second, the rich will have new incentive to take their cash to a more tax-friendly country. Lastly, some of the money would get siphoned off along the way and the US government is incapable of making better decisions with how to use the funds than skilled investors who keep tabs on the pulse of the market daily
The United States economy doesn’t need another fix, such a policy would draw out the recovery process even further. It’s time that America go organic with it’s policy to enhance revenue generating activities rather than cut-costs and extract resources from the rich. I know you’re hungry America but please don’t eat the rich.