Cutting taxes vs. social spending

[icarus]

From green_girl

A friend of mine who has moved in the circles of the very rich told me that in his experience, those who inherited their wealth tended to be Republican and anti-tax. He posited that they don't want to "lose" their money to taxes because they wouldn't know how to replace it.

Those he knew who became rich from ingenuity and work were generally Democrats. They knew how to build wealth--they'd done it before and could do it again. And they knew that a more equitable distribution of money was better for their business. One guy outright told him, "If you gave me the choice of cutting my taxes in half or doubling social spending, I'd vote for the social spending. More money in people's pockets means more customers for my business. I make so much more money off of new customers, it far and away is better for my bottom line than cutting my taxes."