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Reply to "Raising taxes on the rich? They are already leaving america because of the our current HIGH Taxes"
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[quote=Anonymous][quote=Anonymous]Why do libertarians hold on to the fantasy that cutting taxes on the rich generates jobs? [/quote] Well, it is incontestable that if everyone has more money due to less taxes, some amount of that will be spent on investment, some will be saved, and some will be consumed. The debate is over how much. It is pretty clear that almost all money given to a poor person will be spent. It is less clear what a rich person will do with their money. Will they buy a speed boat, stimulating the speed boat industry and increasing hiring there? Will they put it into a new business venture? Or will they save it and in what form - gold, bank deposits, the stock market, whatever?[/quote]
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