FROM BEHIND THE WSJ PAYWALL
OPINION BEST OF THE WEB
Anti-Growth Song Remains the SameCriticism of the new Trump tax plan is oddly familiar.
By James Freeman — Sept. 29, 2017 6:06 p.m.
*** begin quote ***
This week the President and congressional Republicans rolled out their plan to boost economic growth by giving people and businesses greater incentives to work and invest in the United States. Specifically the plan is to lighten and simplify the tax burden on individuals and cut the federal corporate income tax rate, which when combined with state taxes now adds up to roughly twice the average rate found in Europe and Asia.
It seems straightforward that moving the U.S. rate down close to parity with the rest of the world would make the U.S. more competitive and encourage more companies to locate here. And even critics of the plan are evidently uncomfortable trying to argue that people do not respond to incentives.
*** end quote ***
Sorry, but as a little L libertarian who has as an article of faith that “taxes are theft”, I fail to understand how anyone can argue that “higher taxes are good” or that “higher taxes do not suppress economic activity”.
Joe and Jane Six Pack NEED a booming economy where employment is easy to find and well compensated. “Human Resources” should be in high demand — more than at Starbucks, McDonalds, and drivers for the local pizzeria.
Should anyone care that the folks, who pay the taxes, are “rich”? What are they going to do with their wealth? Put it in a vault like scrooge md duck and swim in it. No, they will buy luxuries and invest it. Either way, Joe and Jane Six Pack are going to benefit from it.
Remember when Massachusetts pass a “yacht tax” or Congress passed a “boat tax”, an a lot of boat builders went on unemployment?
It’s just stupid to give money to politicians and bureaucrats, who will waste it on “programs”, when we could give it to “rich people” who will generate jobs.
So what if they live like “kings”, remember that today’s “poor” have “wealth” that the rich in the 1950’s could only dream about.
That’s the secret of capitalism — no matter how much you try, you only get rich by serving the needs of your fellow human being.
Call it “certificates of appreciation” instead of money! You give me a hot dog from your cart , and I give you a “certificates of appreciation” in the form of money.
# – # – # – # – #