High Taxes Will Hit Middle Class
Posted: November 13, 2012
Americans calling for higher taxes on the wealthy should soon get their wish. What the middle class needs to prepare for is the higher costs that are the result of higher taxes.
When a “wealthy” landlord has a tax increase, the tenants will soon see an increase in their rent. Tenants unable to afford an increase will have to move somewhere more affordable.
If a “wealthy” business owner sees an increase in taxes, the products and services offered will increase in cost. Some will no longer be able to afford these products and services and will have to forgo them.
Raising taxes on the wealthy will ultimately result in the middle class having less money to spend. While the wealthy will be paying more in taxes, the middle class should realize that they will be the ones paying those taxes through higher costs.
When a “wealthy” landlord has a tax increase, the tenants will soon see an increase in their rent. Tenants unable to afford an increase will have to move somewhere more affordable.
If a “wealthy” business owner sees an increase in taxes, the products and services offered will increase in cost. Some will no longer be able to afford these products and services and will have to forgo them.
Raising taxes on the wealthy will ultimately result in the middle class having less money to spend. While the wealthy will be paying more in taxes, the middle class should realize that they will be the ones paying those taxes through higher costs.
Bill Balint
Harrisonburg
Harrisonburg