Yet we oppose higher taxes on “the rich,” for two practical reasons. First, the evidence is clear that higher tax rates would hurt the global competitiveness of the American economy, and thus hurt all Americans. One of us lives in Florida, where there is no state income tax; the other in New York City, with the highest income taxes in the country. The Empire State is struggling compared with other states; the Sunshine State is booming.

More important, we know we can spend our dollars more wisely, and in ways that benefit our communities and our country, than politicians can.

The businesses we created have employed hundreds of thousands of Americans. Two of the firms we own we purchased in bankruptcy court, saving more than 5,000 jobs. Our companies have paid tens of billions of dollars in wages and contributed hundreds of billions to U.S. gross domestic product. They also made the tens of millions of Americans who use our products and services better off. The Home Depot lowered hardware prices across the country. Customers chose us because we offered what they wanted at a price they were willing to pay. That’s the win-win miracle of the free market.