Ya, you don't understand it.
Capital is invested in order to earn the reward for taking the risk. If Person X has $1,000,000 and can choose to invest that money here in the U.S. and create say 20 jobs and the return on his investment would be taxed at say 45% (you're advocating an increase) at either the personal or corporate level, he's going to look at other alternatives for his money. Like say investing in another country with a lower tax rate where that $1,000,000 will be taxed at say 20% until he decides to bring it back to the U.S., at which time he will gladly pay 45% of $10,000,000 rather than having $4,000,000 over the years.
Slashdot Mirror
Ya, you don't understand it. Capital is invested in order to earn the reward for taking the risk. If Person X has $1,000,000 and can choose to invest that money here in the U.S. and create say 20 jobs and the return on his investment would be taxed at say 45% (you're advocating an increase) at either the personal or corporate level, he's going to look at other alternatives for his money. Like say investing in another country with a lower tax rate where that $1,000,000 will be taxed at say 20% until he decides to bring it back to the U.S., at which time he will gladly pay 45% of $10,000,000 rather than having $4,000,000 over the years.
I have an idea, why don't the 47% who don't pay a dime in taxes start paying something before you start telling the top 10% to pay their fair share.