Fairness is a value judgment. In the fight over taxing the rich, those with good values are losing the judgment. They are losing because they have failed to name, and defend, the moral right which ought to define fairness toward all taxpayers: the right to own and to keep the wealth you create. President Obama proudly articulates the moral case for ... MORE
Showing posts with label rich. Show all posts
Showing posts with label rich. Show all posts
Cynthia V. Ward: Fairness And Freedom
Fairness is a value judgment. In the fight over taxing the rich, those with good values are losing the judgment. They are losing because they have failed to name, and defend, the moral right which ought to define fairness toward all taxpayers: the right to own and to keep the wealth you create. President Obama proudly articulates the moral case for ... MOREThomas Sowell: Taxing The Poor
How the poor are made to pay. With all the talk about taxing the rich, we hear very little talk
about taxing the poor. Yet the marginal tax rate on someone living in
poverty can sometimes be higher than the marginal tax rate on
millionaires. While it is true that nearly half the households in the country pay
no income tax at all, the ... MOREDespite New Taxes, California's Revenues Are In Freefall
The rich are voting with their feet. California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now ... MOREThomas Sowell - Fiscal Cliff Notes - Part II
Anything to expand the size and scope of government. One of the big advantages that President Obama has, as he plays "chicken" with the Congressional Republicans along the "fiscal cliff," is that Obama is a master of the plausible lie, which will never be exposed by the mainstream media-- nor, apparently, by the Republicans. A key lie that ... MOREThomas Sowell: Fiscal Cliff Notes
Like a laser cutting through fog. Amid all the political and media hoopla about the “fiscal cliff” crisis, there are a few facts that are worth noting. First of all, despite all the melodrama about raising taxes on “the rich,” even if that is done, it will scarcely make a dent in the government’s financial problems. Raising the tax rates on everybody in the ... MOREThomas Sowell: Nice Losers
Mitt Romney now joins the long list of the kinds of presidential candidates favored by the Republican establishment -- nice, moderate losers, people with no coherently articulated vision, despite how many ad hoc talking points they may have. The list of Republican presidential candidates like this goes back at least as far as 1948, when ... MOREWalter E Williams: Trickle Down And Tax Cuts
Tickle down demagoguery from the left. Dr. Thomas Sowell's "'Trickle Down Theory' and 'Tax Cuts for the Rich'"
has just been published by the Hoover Institution. Having read this
short paper, the conclusion you must reach is that the term "trickle
down theory" is simply a tool of charlatans and political hustlers. Sowell states that "no such ... MOREWalter E Williams: Trickle Down And Tax Cuts
"Tax cuts for the rich" rhetoric works on the gullible. Dr. Thomas Sowell's "'Trickle Down Theory' and 'Tax Cuts for the
Rich'" has just been published by the Hoover Institution. Having read
this short paper, the conclusion you must reach is that the term
"trickle down theory" is simply a tool of charlatans and political
hustlers. Sowell states ... MOREDavid Henderson: Getting Rich In America
Eight simple rules. Sometimes, when the person beside me on an airplane finds out that I'm an economist, he/she will ask, "What's going to happen to the economy?" I answer, "I don't know." If the person is somewhat more sophisticated, he will ask "What's going to happen to interest rates?" I used to answer, "I don't know." I now answer: ... MOREThe Top 20% Paid 94.1% of Income Taxes in 2009
This chart is based on data in the recently-released CBO report "Distribution of Household Income and Federal Taxes, 2008 and 2009," showing the share of federal income taxes paid by income group in 2009. In 2009, almost all (94.1%) federal income taxes collected were paid by just one-fifth of Americans (top quintile) and the top 1% paid almost 39% of all taxes collected. In contrast, the lowest and second quintiles were net "tax collectors" because that 40% of Americans received more in ... MORE
Jeffrey Tucker: A New Way To Soak The Rich
Incentives for voluntary redistribution. You might have noticed that lots of people are really down on the so-called 1%. It drives many people, especially politicians, absolutely bonkers that there are lots of people out there sitting on millions, billions. Populists imagine that these people do nothing but hoard and count and let out menacing ... MOREThomas Sowell: A Book For Republicans
Class warfare: good politics and bad government. Democrats have been having a field day with the cry of "tax cuts for the rich" — for which Republicans seem to have no reply. This is especially surprising, because Democrats made the same arguments back in the 1920s, and the Republicans then not only had a reply, but one that eventually carried the day ... MOREBill O'Reilly: Hating The Rich
My late father was a man of strong opinion. He despised phonies, cowards and liars. He named names -- sometimes in very close proximity to those being singled out. A veteran of World War II, he recognized a weasel when he saw one. But my dad never denigrated rich people in general. We lived in Levittown, N.Y., where everybody had pretty much the ... MOREKatie Kieffer: How Bill Gates Rips Off Babies
Stealing from babies is easy and low. Microsoft co-founder Bill Gates makes himself feel powerful while negligently ripping off babies. I am a capitalist. I defend entrepreneurs. However, I think young people and their parents should know that Gates is a sham entrepreneur. Gates openly uses his wealth and influence to push policies that will make entrepreneurial ... MOREWalter E. Williams: America's Two-Faced Liberals
Behind the facade. President Barack Obama and Wall Street occupiers, along with their allies in the mainstream media and on college campuses, have maintained an ongoing attack on high-income earners, people they call 1 percenters. Listening to their deceitful demagoguery, you would naturally think of them as 99 percenters, but you'd be dead-wrong. Last week, ... MOREShikha Dalmia: Obama's Taxing Psychology
Obama needs the Gandhi Rule, not the Buffett Rule. President Obama has been on the stump condemning Senate Republicans for the defeat of the so-called Buffett Rule, his plan to make high-earning Americans pay at least 30 percent of their income in taxes. The naysayers, Obama thunders, chose “once again to protect tax breaks for the wealthiest ... MOREShikha Dalmia: Forget About Income Inequality
It's economic opportunities that will help the poor. Reading David Grusky’s essay is a strange experience: with the wrong diagnosis, he gets half of the right cure. Grusky maintains that the central problem confronting America is income inequality. He argues that the root cause of this malady lies in how rich people acquire their pre-tax income—by rigging the ... MORE
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