Wonder why Congress doesn't want to eliminate the tax break for those making over $200,000 or even $1 million?
According to politico.com, 237 members (44 percent) of Congress are millionaires. We out here in the trenches are told that eliminating the tax break for high income earners will negatively impact new jobs opportunities. I'm waiting for someone to explain why letting a CEO, bank president, or other individuals with exorbitant incomes pocket hundreds of thousands or even millions of dollars will encourage them to hire more people.
The last time I heard, supply and demand controlled the market and the directly affected the number of employees necessary to meet those criteria. Granted, small business owners usually start their businesses with out of pocket money and a tax break would conceivably allow them to invest more in the business. However, I'm curious about how many small business owners are included in this high income tax bracket. Most certainly, members of Congress will realize the tax break if it is extended. With the present economy, the advantage of tax breaks for the middle and lower class earner speaks for itself.
Dean Hill, Sterling
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