There’re several problems with this tactic as it doesn’t bring our country together instead it intentionally tears us apart for political gain. It’s easy to play this card considering the rich are a small portion of our society. The politicians who do this are playing to the masses.
Going after the rich has been a strategy for thousands of years but it never worked from an economic perspective; there just aren’t enough rich people to influence the economy. What they’ve found is when you tax the rich they stop creating jobs. So it ends up being a vicious cycle because the government starts losing tax revenue because more and more people become unemployed. Even if we didn’t tax the rich more heavily and instead took all of their money away, it still wouldn’t fix our economy. Shifting money from the wealthy and giving it to government is the worst investment we could ever make.
We need to keep in mind the owners of small businesses (S-Corps) don’t make the millions of dollars that some of the presidents of large corporations make. Think about this as well that there are thousands of more small business versus large companies like the Bank of America and General Electric. Many of these samll business owners make less than $200,000. With this in mind, when the government says they’re going to go after the rich and tax businesses more, it’s actually coming out of the pockets of small business owners. These are the very people who are providing our country with the greatest job growth. So taking money from them and giving it to the less fortunate will only last for so long because as small businesses decline so do tax revenues to the Federal and State governments so in the end they won't have money to give to the less fortunate.
Republicans believe that freeing up business owners through lower taxes will allow businesses to expand and provide more jobs for everyone. They believe that funneling tax dollars to a lower income base wouldn’t grow jobs as business owners’ account for 74% of job growth. It’s not that they don’t care about the poor they just believe that providing more jobs is the key to helping them. Basically don’t give a man a fish instead teach him how to fish.
The Democrats have a different philosophy as they believe in a bottom up approach. They figure if they can get the money in the hands of people with lower incomes that they will spend their money and stimulate the economy.
The bottom line is that both parties want to help the poor it’s just a difference of philosophies. Creating an impression that one party is out to only take care of the rich is a very misleading statement and I wish they’d stop playing these games. I don’t think the Democrats’ strategy of playing classes against one another is working; if it did then they would win elections by landslides because of the number of taxpayers who are lower to middle income. Apparently voters are smarter than they think.
“A house divided against itself cannot stand.” – Abraham Lincoln