As a top tax bracket guy, an evil villain referred to by our current regime, I have been punished. My taxes on investments, dividends and capital gains, leapt from 15% to 25% with an additional 3.8% Obamacare tax stacked on in 2013. This changes the formula for risk-taking. It has also reduced the value of my assets by 10%, when a new buyer or investor calculates his return on investment minus the higher tax rate.
They call it a redistribution of wealth. Unfortunately this theft is not making the poor less poor or any less of them. Over the last 7 years the percentage of population stuck in long-term unemployment, the percentage of poverty and the number depending on food stamps have grown. The worst stats for women in the workforce and their incomes have occurred in 3 Presidential terms – 2 for Obama. There are still 30 million uninsured while healthcare insurance costs and deductibles have skyrocketed. Public schools are failing. College costs are rising and the national debt resembles the first hill in an amusement park roll-a-coaster. Why does snaring money from the producers not work?
The fact is, nothing is gained by taxing investors, producers and top money earners. But much is lost. Yellen recently admitted the economy still needs life support. This is because we have never before experienced as much corporate, private and individual capital “on strike”. Whenever you discourage incentive and punish success, you create a Failure Environment. It would be good for our voters and government to know this. However it is vital we know it, operate our businesses, do our parenting, and live our lives accordingly.
When someone asks, or in the government’s situation demands a pay raise, their needs are irrelevant. What is relevant is what they are going to do in exchange to provide more value for the raise? In your case the questions should be “What are you doing to be worth more to your patients?” “What kind of dental experience can you offer over and above just fixing the tooth?”
You are not the government. You can’t just highjack people for additional fees. If you want to increase your income 10% or even more in 2014, what are you going to do to deserve it?