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 ...
lady?
Hi,
Thanks for the response to the pesty trial I’ve been enduring.
I hope you don’t mind, but I looked at your account, too. I see that you are into shape note singing. When I was young, a preacher, Rev. Jim Stanley, used to go around southern WV where I live teaching this to folks, young and old. I attended his classes and learned to read, play piano, and make joyful noises (I hesitate to call it singing) to my Lord. I really miss that kind of music.
I also saw on your link about the Watauga Assoc. I have been researching an ancestor, John Wood, of Bedford, Va. He was an Indian fighter. He left Bedford about 1773. He wrote a will naming his underage children 4 boys, John, Richard, Henry, Elijah and 4 girls, Elizabeth, Rachel, Agness, Milly/Mahala)and his wife, Agness, who was nicknamed Nelly (perhaps for Eleanor). I’m pretty sure Agness was the daughter of Abel Griffith of Augusta, VA.
John Wood fought in the Battle of Point Pleasant. After that, he was known to have bought land on the Nolachucky river, near Jonesboro, from Jacob Brown. Oral tradition is that while he was in the woods near his home there, gathering maple sap for syrup; he was attacked and killed by Indians. I don’t know where this tradition began. Some say it is recorded in the Wisconsin files of Lyman Draper. I haven’t been able to prove it. I did find his will recorded in Washington Co, TN at Jonesboro. There is no probate recorded that I have found.
I assume his wife and children were still in Bedford. I also assume these children were farmed out to Uncles as I find many Wood families living nearby in the census, but this was long before they recorded names and ages. I’ve found little clues to link all this together, but no proof. Do you know of anything about this John WOOD?
Thanks!
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