[tag-tec]Robert L. Johnson[/tag-tec], the billionaire founder of Black Entertainment Television has come out against tax hikes, Jessica Holzer is reporting in The Hill.
This shows a shift as minorities gain more influence with congress in the war to lower taxes.
“I believe there’s a tendency of certain members of the Democratic Party to pursue tax changes as part of some soak-the-rich strategy without thinking about the longer-term consequences to the overall economy,” Johnson told The Hill.
No truer words have been spoken. In fact, we couldn’t have said it better ourselves.
Will they listen?
Don’t they have children and grandchildren who will inherit high taxation?
Here are some more facts.
There are others who are also pursuing this quiet tax protest behind closed doors. And we won’t be hearing so much about it during the presidential election.
Among them is Craig Huffman, an African American real estate investor.
He has invested in neighborhoods where others wouldn’t dare. I have to respect that as an investor and landlord. I’m picky about my properties and where they’re located.
The reaction of some members of Congress?
“Our story, I think, has shocked a lot of [tag-ice]congressmen[/tag-ice] and senators because they haven’t talked to a guy like me,” Huffman said.
My question is why should they surprised? Are they so removed from the American system of entrepreneurship that it actually shocks them when someone does invest $25 million into neglected Chicago real estate?
But a basic economic fact is everyone needs incentive.
A good heart will only go so far, I’m sorry to say. Lawmakers have to make it easier for people like Huffman ,or you and me, to take such risks.
A repressive [tag-self]tax[/tag-self] system kills incentive.
Why work so hard if you know your children will be facing an IRS nightmare after your funeral?
I have one question to ask those members of Congress who really do need to get out and visit with folks like Johnson and Huffman.
Is this the way we reward risk-takers?