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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Monday, December 24, 2012

Instapundit » Blog Archive » SHELDON RICHMAN ON GERARD DEPARDIEU: Taxpayers Aren’t Stationary Targets: Raising tax rates in a s…

Every Democrat and Republican should be forced to read this. But even if they do, it probably won't have an impact, particularly on Democrats since they are frothing-at-the mouth socialists. But the commentary here is well said and succinct......
Two things. First, most politicians aren’t good at math. That’s one reason they went into politics in the first place. Second, it’s not so much about revenue as it is about control. Particularly in Obama’s case, it’s about punishing high-earners — or as he puts it, “fairness.”

Also, while revenue may be roughly the same at different tax rates, higher tax rates produce more distortions in the economy, and inflict deadweight losses from conduct that is driven by taxes rather than economics. That’s why research shows that GDP grows faster when tax rates are lower. But if you derive your own sense of importance from slicing up the pie, you don’t care as much whether the pie grows or not.
Fairness? What is that? I think that it is more fair that every American pay something, their fair share, and that when taxes are raised, that they are raised on everyone.

Instapundit » Blog Archive » SHELDON RICHMAN ON GERARD DEPARDIEU: Taxpayers Aren’t Stationary Targets: Raising tax rates in a s…

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