Friday, February 27, 2009

The Tax Cut Myth

If it’s been a while since I’ve posted, it’s because I’ve been thinking. For example: The myth perpetuated by the Republican Part about tax cuts for the rich is that it increases employment. It doesn’t. It simply increases the amount of money the rich take home. The idea that adding a 3% tax on their income would cause someone to lose their job is preposterous, unless we’re talking about Jose Mow-de-Lawn or Anita Keep-de-House. The entities that create jobs are businesses, not individuals.

Of course the argument could be that giving the rich more of the money they earn will be spent and that will create jobs, but that argument is better for the middle-class than it is for the rich because there are millions more middle-class than there are rich. So, giving the middle-class tax breaks makes more jobs than giving tax breaks to the rich. On the other hand, one could look at it like Congresswoman Bachmann does; “…there are not enough rich people.” That statement is so stupid that it astounds any sense of decency. She favors wealth transfer from the poor to the rich. She survived 2008 reelection 47% to 44% in the sixth district in Minnesota. That must mean that at least 47% of the voters in Minnesota's sixth district are stupid.

But, Bachmann is just the tip of the iceberg. All Republicans appear to have jumped onto the Limbaugh band wagon. He is their spokesman and he wants Obama to fail. And, no, I’m not taking Limbaugh statement out of context. He was very clear on that. And, to hear all the Babel coming out of the Republican Party, they are bent on causing Obama to fail. Out of one side of their mouths they preach that allowing the Bush tax cut for the rich to expire and giving the middle-class a tax cut is “Socialism”; transferring wealth to the middle-class. But, what is giving the rich a tax cut while not giving one to the middle-class? That sounds like “Socialism” for the rich; transferring wealth in the other direction. They speak with forked tongue selling their tax cut snake oil as an elixir for all government ailments.

Progressive tax on all is a good thing. It means that if you make more because of the opportunity and fortunate circumstances given you, then you should pay more dues. There’s nothing wrong with being grateful to the country that provided you with your good fortune. It’s difficult to find grateful rich people now days or even people who want to support their country. The fact is that the U. S. of A. is broke; more than broke. The only way to get us out of the hole is taxes. So, if you make it, then pay up.

If Obama does fail, I don’t think it will be because of anything he did; it will be caused by the opposition to his success. That’s too bad. It will cause America to fail too.

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