Rich Americans Flocking Out Of The Country
By TJ Adams
High taxes, no incentive to grow, cant keep the money you worked hard for is forcing many rich Americans to flock out of the country. In fact 8000 wealthy US citizens are leaving the USA and renouncing their citizenship. Meanwhile, Obama wants to raise taxes on small businesses and tax the rich who make over $250,000 dollars a year. Most of these people own small businesses. In 1985 over 80% of the people paid payroll taxes, in 2012 it’s less than 49%. The middle class is taxed in a lot of ways. But the fact is, it’s not a revenue problem but a spending problem.
Your city and state governments actually compute a 8% income gain on the taxes they collect. Example, if a city collected $10,000 dollars in revenue, they will actually say they will collect $800.00 extra. 8% of $10,000 is $800.00. Try that with 50 million dollars, they would say they will have an extra 4 million dollars, every year if the tax revenue stays the same or, if tax revenue increases they say they will make more. The truth is they usually make 2% of any income they bring in by investment. When they calculate retirement funds for workers they actually factor in the 8% they never make. That’s why they are broke. They started this years back and now it’s time to pay and they don’t have the funds to pay Policemen or fireman’s retirements. When an economy goes bad people leave and they bring in less revenue in taxes. Yet, they still have to pay what they promised. It’s not sustainable and things are going to get much worse.
Obama wants to tax people higher who make over $250,000 dollars a year which will bring in 85 billion a year. It wont happen, anytime they raised the taxes on the rich and small businesses they lost tax revenue. The rich hide the money and not off shore they have ways to do it in the USA itself. Small businesses will not hire and lay people off. Things will become worse. We already see Obama’s plan for the middle class if re-elected higher taxes and more deficits. It doesn’t take a physic to see this.
To Understand Obama look at Obamas real mom