Hi Jay, Wayne,
Please correct/chase me on these comments.
Also, I have not read that there is a plan to increase/change Capital gains rates, long or short term for anyone ?? Correct me on this.
Now, on those "high income earners" whose compensation is normally performance based anyway, that the final numbers are based on producing a "net income figure". If taxes are increased, salary will be increased to compensate and the costs of which will be passed through to customers in the form of price increases.
The increased taxes are simply being passed through to the "customer base" of the company.
In the same vein, businesses/corporations do not "pay taxes" they simply "collect them". The funds for the taxes come from the "customer base" , you and I.
When increased tax demands exceed the companies ability to raise prices and compete, they go out of business and lay off their employees.
So much for "politician speak" on the tax issue !!!