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January 27, 2010

Very High Top Tax Rates Are Very Good For Business

-- by Dave Johnson

Very high taxes at the top force executives into thinking and acting for the long-term interest of their business and surrounding community. If they can't get wealthy from a quick windfall then they have to run a sustainable business, and that depends on the health of the surrounding community.

Today executives can pocket a windfall in a short time and take off, leaving the mess behind for the rest of us to clean up. For example, the executives at Lehman Brothers got rich by destroying the firm and kept the money after it collapsed, while the employees were all laid off and the economy destroyed.

If high tax rates on the highest incomes mean it takes a decade to get rich, then the executives must do their part to keep the business and surrounding community healthy for that decade.

Posted by Dave Johnson at January 27, 2010 3:02 PM


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