Lame: 40% Of Americans Think That Raising Taxes On The Rich Will Help The Economy April 26, 2012

This is why Thomas Jefferson advocated for a well-educated citizenship.

A Fox News poll shows that 40% of Americans think that raising taxes on rich people will actually help the economy.

The pollster doesn't go on to ask, "How would raising taxes on rich people help the economy?" Because that's not what pollsters do.

But we would love to see the answers to that question.

The pollster doesn't go on to ask, "How do you define rich?" because that's not what pollsters do.

But we would also love to see the answers to that question.

Rich is relative. A McDonald's Happy Meal is "rich" to people who live in poor, undeveloped countries.

And is rich based on income or net worth? In fact, do most of those people polled have any idea what the difference is between income and net worth?

We doubt it.

Here's the point: If the government raises taxes on the rich, then the government gets a little more money. How, exactly, does that stimulate the economy?

It doesn't.

And we know that our elected critters in Congress don't care about the national debt. So, what little money they got, they wouldn't use for that deficit reduction.

Our federal government will simply waste the money. That's how they roll.

In fact, raising taxes on "the rich" (whoever they are), is raising taxes on people who would invest that money in job-creating initiatives. That is, they would invest the money as venture capitalists in start-up companies, they would use that money as working capital in their business ventures, etc.

Raising taxes, especially in a weak economy like this one, typically hurts the economy. It doesn't help it.

Most Americans should know that by now.

---