[speedgibson] Speed Gibson: Taxes have Consequences

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Posted by Speed Gibson:
Taxes have Consequences
http://speedgibson.powerblogs.com/posts/1237173937.shtml


   Once again, the DFL says they want / need to raise taxes, this year in
   the name of the "shared sacrifice, shared responsibility" needed to
   close the budget deficit. Part of this is to be a new fourth tax
   bracket reserved for high income taxpayers.
   Once again, the DFL pretends there are minimal consequences for this.
   The rich, the threshold to be determined, will simply say acknowledge
   their need to carry even more of the load. They won't move. They won't
   put off major purchases. They won't even economize. For those whose
   returns include their small business income, they won't lay anyone
   off. They won't outsource. In fact, once they realize all that
   Minnesota is doing for them, they'll expand!
   Rubbish. They will do all of these things. They're smart people.
   That's why they make high incomes.
   The result is that money they would have spent on the middle class to
   eat out, travel, buy a car, or invest now goes to the state. Money
   that would have been middle class income is effectively diverted to
   St. Paul.
   The reverse is true, also. Imposing taxes on the general population
   reduces discretionary income, limiting the sales a high bracket
   business owner can expect.
   If it looks like a tax and acts like a tax ... it's a tax. As the
   liberals like to say, "we're all in this together." There is no way to
   raise taxes solely on an isolated segment of the population.