My friend and donor development expert Rick Dunham was quoted recently on Fox Business Network about research that indicates hiking taxes on the wealthy only hurts charities and non-profit organizations in America. As Rick reports, in practice, this could mean the demise of some charities, including the ones that work with people who have been hit hard by the recession. Many charities have already been forced to lay off workers.
While it might seem the rich have all the money, so let’s hit them harder – the truth is that people with money are the investors, business owners, and risk takers. The government doesn’t create jobs, it only creates debt, and I think it’s time we laid off the criticism of successful people. New York City has already seen the consequences of hitting the wealthy too hard – the wealthy just move out. Droves of high income people have left New York because of high taxation, and it’s devastating their recovery.
So let’s get a grip on where the great charitable donations, jobs, and new business comes from and stop this insanity about sucking the life out of rich people. Hey – if you have the guts to risk it all on a new idea, project, or product, I say make all the money you can make.