Dear State Legislators and Our Governor (and those gubernatorial candidates both Republicans and Democrats),
The idea of increasing taxes on the "rich" when our state is facing a multi-billion dollar deficit may seem like a sensible action, but I would discourage you from doing so. Increased revenues are the assumed result of this increased taxation but I can assure you the revenues you so desire will not come flowing in. Your assumption that increased taxes on the rich necessarily is a classic example of
Stage One Thinking. Increasing the tax burden on the "rich" does not take into account how they will respond to these actions.
Please look at the results of similar initiatives in
Maryland and
New Jersey where such actions have resulted in decreased revenues and the potential loss of a tax base as these "rich" you seem to despise have moved away.
Increase their taxes and they will leave.
Increase their taxes and they will save, rather than spend their money.
Increase their taxes and they will work less, if not at all.
Please read
this article, as well as,
this one and pay heed to the warnings within.
Sincerely,
Nathan Atkins
