Would taxing the wealthy make things more expensive?

[Guest-5ty5s4]

The higher taxes are just the tip of the iceberg. The real problem is when higher taxes are coupled with a string of regulations. The cost of meeting those regulations dramatically add to one's business expenses. They are a form of a hidden tax. They are also a gravy train for the targeted group of experts and services that the regulations trigger. Think about it. Many of the regulations require the business to hire from a small pool of experts and/or businesses in order to comply. The regulating agency becomes a revolving door with those pools of people who must be hired. Those who write the regulation are writing their own future employment prospects. They know how that regulation is going to be applied and where all the loopholes are in the compliance scheme. To add to their power, they have their pals in the regulating agency to grease the way for their clients. And the beat goes on, and the beat goes on...

Yeah this is a big problem.

Regulations and policies that destroy wealth and opportunity continue to grow because they benefit lawyers, CPAs, politicians and other members of the highly paid bureaucracy.

These jobs usually add little value to society, they just slice it and dice it. Imagine a business where all you do is interpret rules that nobody understands without studying the rules for years in school.

It’s like holding entrepreneurs hostage and making them pay ransom to do business.

 

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