Now that we are into the political season, you will hear one party continuing to say that tax cuts for the rich have caused every problem known to mankind. The question I have is, why are tax cuts for the rich bad? Let us look at what rich people do with extra money. It falls into three categories:
– They save the money.
– They spend the money.
– They invest the money.
I am no economist, but which of these three are bad for the economy? I am still waiting for the answer from the political party.
So over the few months when you hear the political party say that tax cuts for the rich have caused the deficit, world hunger, global warming–you name it–keep this one thought in mind: What group of people would you rather have spending money, rich people or the federal government?
