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Originally Posted by Soriak  Some of the wealthy need to reconsider why they're favoring Republicans. Even if you have slightly lower taxes, the economy grows more under a Democratic president and raising taxes to eliminate the deficit will lead to lower inflation. Low inflation and more gains in the stock market should be appealing enough to accept a little higher taxes.
How much would income taxes have to go up anyway, by 10%? So someone currently paying 20% would end up with maybe 22%? (less, I suppose, because of tax brackets)
Let's not forget that lower inflation would make the country more attractive for foreign investors and might hold off the pricing of oil in Euros. Long-term, this should be a no-brainer... and if you have a significant net worth, why would you care about tiny short-term gains? |
Bingo! Actually, this roughly describes economic policy under Bill Clinton. It's hard to find fault with the economy under Bill. That was why I initially supported Hillary. The problem with the Clintons was all the drama and scandal and back-room dealing, which I don't think has changed given their behavior in this election. It's probably worse now. They've been around so long, they probably owe (and have promised) every Tom, Dick and Harry on the planet. And I think Obama is smart enough to chose wise people to help him with the economy.