Taxing rich not the answer

11/19/2012 7:06 PM

11/19/2012 7:06 PM

The federal and state governments think they can solve economic problems by raising taxes on the wealthy. But look around — see all those businesses that have closed down?

In Los Banos, we have 18 percent unemployment and more than 50 percent of the food sold is paid for with food stamps. Lowe's closed its store, and businesses are hurting. When people don't have money to spend, businesses don't make money and so pay less in taxes, not more.

Because President Clinton lowered taxes, the U.S. government took in 80 percent more revenue in his last year than in his first year. President Bush lowered taxes and took in 20 percent more in his last year than in his first year. The only way to improve the economy is to promote job growth. People with jobs are paying taxes and not collecting government aid.

If you think things are bad now, wait a few years because when the government runs out of money, the riots in Greece are nothing compared to what will happen here. All because of fiscally irresponsible people.

DAVID J. SILVA

Los Banos

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