Archive for 12/19/2010
One Of The Top Liberal Lies: “Tax Cuts For The Rich”
Most of those making higher incomes and paying the top marginal income tax rate are not wealthy. Most people consider someone wealthy if they have a net worth of several million dollars or more. So most of those paying these upper marginal rates are not wealthy, but they may be trying to become wealthy.
Again, like their old Bolshevik brethren, liberals try to make the public envy and even hate the wealthy. But capitalism depends upon the wealthy. Much of the investment that drives the growth of our economy comes from the wealthy. We do ourselves a great disfavor by demonizing the wealthy. We damage our economy when we penalize the successful. We suppress our economy when we overtax those who invest. And many who would invest in growth will not do so if they are taxed too heavily, or if government makes the risks unacceptable. Many small business are impacted by high upper marginal income tax rates. To say that cuts in the upper income tax rates don’t spur the economy and spur employment is silly left-wingnut “voodoo economics”.
The next time you hear a liberal use the phrase “tax cuts for the rich” remember they are either knowingly being dishonest, and they have been misled by the prevailing liberal dogma. Income taxes are not based upon wealth, they are based upon income.