Thursday, October 30, 2008

Punishing the Wealthy

Who will benefit if B. Hussein Obama, who is going to give tax cuts to millions who pay no taxes, allows the Bush tax cuts to expire, raising the top marginal income tax rates to the highest levels in the western world?

No one but government.

Here's an excellent argument as to why this is not only stupid, but immoral, from Kate Wicker.

Would someone explain to me how making the rich poorer is going to make the poor richer? (And that doesn't even take into account the Keynesian fallacy that taxpayers won't do anything different with their assets to make them less taxable when rates go up.) I don't know about you, but I don't remember the last time a poor person created a job for someone else.

1 comments:

LC said...

I agree with what you say and I know what you mean to say when you say "but I don't remember the last time a poor person created a job for someone else".

One might (wrongly IMHO) make the arguement that the poor create jobs because of the services they need. However, the problem is that like you said it is still only the goverment that benefits because the jobs created tend to be government jobs. Which of course just makes the whole problem worse. It serves to enslave more and more people to the goverment, denying them the ablity to rise above their situation in life. And it also keeps them from becoming tax payers.