Considering a tax increase? Read your history first!

Yes, I am doing it again, dipping a toe, or maybe an entire foot, into perilous political waters. I can’t help it. The ongoing debate leaves me screaming with frustration. So I will try once again, with the help of Stephen Moore, a brilliant economist and author who also sits on the editorial board of the Wall Street Journal.

I have read at least one of Mr. Moore’s books and have enjoyed his business information and commentary many times on Fox News. Today, he has done it again, with an article in the Wall Street Journal. It is entitled “Why Lower Tax Rates Are Good for Everyone.” In the article (which I heartily recommend to my Gentle Readers), he gives a badly needed overview of tax history in the United States, going back to the 1920′s. It systematically dismantles the arguments made by the President and his fellow party members that we must take a “balanced” approach to raising revenue and that “millionaires and billionaires” should pay “their fair share”.

I have to take issue with the terminology. First, a translation. “Balanced approach” means to raise taxes. “Millionaires and billionaires” somehow morphs into anyone making more than $250,000 per year. (Are they arithmetic-challenged?) Finally, the top 1% of taxpayers are already paying the lion’s share of the taxes, so please define “fair share”. I have noted that when asked, and specifically requested to offer a number, that those on the left never answer the question.

The argument never changes. Too many in our government cling to their talking points. And they continue to annoy me with their ignorance and blatant dishonesty.

So, here is my humble suggestion. The election is over. No need for talking points. Instead, we need open, honest and serious discussion on the financial mess we face from both sides of the aisle. And please, study your history and begin the discussion based on the facts!

This entry was posted in Rants & Raves, Taxes. Bookmark the permalink.

2 Responses to Considering a tax increase? Read your history first!

  1. I read a letter to the editor of the Everett Herald this morning which offers another excellent argument against raising taxes on the so-called rich. Read it here:

    My thanks to Pete Reeder of Lake Stevens, WA, for his well-stated argument!

  2. Why should we now take their success and give it to the federal government? Will the government now build our hospitals, parks, colleges and universities or will the money be given to support our bloated, bureaucratic government. Let’s leave it the way it is so our wealthy will continue to share their success with us in our local towns. Tweaking the loopholes in the tax codes would be OK. But don’t raise the taxes on the wealthy. – Everett Herald comment about this.

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