Posted on 07/18/2011 4:01:03 PM PDT by Kaslin
Democrats' insistence that the "rich" pay more in taxes is rivaled only by Republicans' apparent inability or unwillingness to engage them on this specific issue. In the following excerpt from testimony submitted to the Senate Finance Committee, economist Thomas Sowell attempts to fill that void.
At various time and places, particular individuals have argued that existing tax rates are so high that the government could collect more tax revenues if it lowered those tax rates, because the changed incentives would lead to more economic activity, resulting in more tax revenues out of rising incomes, even though the tax rate was lowered.
This is clearly a testable hypothesis that people might argue for or against on either empirical or analytical grounds. But that is seldom what happens.
Even when the particular tax-cut proposal is to cut tax rates in all income brackets, including reducing tax rates by a higher percentage in the lower-income brackets than in the upper-income brackets, such proposals have nevertheless often been characterized by their opponents as "tax cuts for the rich" because the total amount of money saved by someone in the upper-income brackets is often larger than the total amount of money saved by someone in the lower brackets.
Moreover, the reasons for proposing such tax cuts are verbally transformed from those of the advocates — namely, changing economic behavior in ways that generate more output, income and resulting higher tax revenues — to a very different theory attributed to the advocates by the opponents, namely "the trickle-down theory."
(Excerpt) Read more at investors.com ...
What kills me is when the scumbags yelp about a “balanced approach” and making “the rich” get some “skin in the game”.
“In return for me agreeing to give less ‘free stuff’ to my Democrat party base of deadbeats, bums, and parasites, you must agree to confiscate even more taxes from those ‘rich’ people (who are already paying most of the freight in this country).”
Yeah, that’s balanced.
The money line.
“Just as labor cannot be forced to work against its will, so it can be taken for granted that capital will not work unless the return is worthwhile. It will continue to retire into the shelter of tax-exempt bonds, which offer both security and immunity from the tax collector.”
The largest gathering of super rich Americans anywhere on this planet is when Congress is in session.
Now you are going to tell me that this bunch wants to tax the rich? Give me a break.
The rich wont get taxed the upper middle class will bear the brunt and Congress will have a loophole big enough for Sheila Jackson Lee to pass through standing up.
There has been not one word said about reforms for the transfers to Indolent Class.
The obligations of the Indolent Class to the rest of society.
Another consequence was that people in higher-income brackets paid not only a larger total amount of taxes, but a higher percentage of all taxes, after what were called "tax cuts for the rich." It was not simply that their incomes rose, but that this was not taxable income, since the lower tax rates made it profitable to get higher returns outside of tax shelters.Very rare failure of editing . . .
You beat me to it.
Why don’t you go find a blogger to be a PITA to?
“The point here is not simply that the weight of evidence is one side of the argument rather than the other but, more fundamentally, that there was no serious engagement with the arguments actually advanced but instead an evasion of those arguments by depicting them as simply a way of transferring tax burdens from the rich to other taxpayers.”
Typical of Leftists whom really are ignorant of economics as a lot, therefore don’t want to participate in meaningful discussion of economic realities, but sleight them with their standard condescention, and bluster.
Straight arming sensible debate is how ignorance handles reality.
Get Ready for a 70% Marginal Tax Rate
One more step towards the Soros/Obama ultimate goal: the destruction of capitalism and implementation of Marxism.
You’re right. He’s not “The Great Thomas Sowell.” He’s “The REALLY Great Thomas Sowell”, or “The Awesomely Awesome Thomas Sowell”. Or how about “The Greatest Thomas Sowell”.
Sounds like teenage girls tweeting about Justin Bieber.
If Kaslin thinks he’s great, it’s his post. What’s the beef? I ignore things I don’t agree with. It makes my life so much easier.
In this case, I happen to agree with Kaslin. I agree with almost everything I’ve read by Mr. Sowell.
The Obama administration thanks you.
I’m paying very close attention to things I disagree with....I’m just not wasting my energy arguing my point.
I’m paying very close attention to things I disagree with.
You seem a bit confused.
Just like most all liberals I come into contact with...you removed half of my post so as to make it say what you wanted it to say.
I will not be posting any more on this subject. As I said, I do not like to WASTE my energy arguing with folks, who instead of thinking with the brain God gave them, have already decided to believe and act on what someone has told them. :)
Yeah. You're the one contradicting yourself.
Flip flopping, blowing with the wind, taking whatever stance suits the moment.
Just like most all liberals.
When I went to look at your account, it said:
This account has been banned or suspended.
How are you able to keep aggravating us?
He gets almost everybody the first time with that. Even me. Once
Who is "US"?
Why are you trying to peer into my account?
Do you slink around your neighborhood after dark peering into people's windows?
You have issues, lady.
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