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Many mistakenly assume that taxing the wealthy hurts only the wealthy, but the effects actually ripple throughout the economy. When the rich have less money to spend and invest, that means fewer customers and less capital for businesses, and fewer jobs for the rest of us. And of course, many of those who are demeaned “rich” through the tax code are actually small businesses. When these small businesses are hit with high taxes, they have to cut other costs (for example, by employing fewer people) or raise prices.
Independent Women's Forum director and Goldwater Institute senior fellow, Carrie Lukas
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