Filed under: Bureaucracy, Capitalism, Democrat Corruption, Domestic Policy, Economics, Economy, Media Bias, Progressivism, Taxes | Tags: Democrat Assumptions, Jump-Starting the Economy, Tax cuts for the Rich
When Republicans even suggest that they are considering cutting taxes, Democrats can be expected to start screaming “Tax cuts for the Rich.” They assume that any reduction in taxes only benefits the very rich and it is not only undeserved, but evil. They are incapable of understanding that if corporate tax rates are cut, those ‘rich” people will not fritter the money away on baubles and yachts, but instead they are freed to reinvest the money in growth, new buildings, new businesses and new machinery, and more workers which creates a growing economy. To be a Democrat, one must assume that the rich never pay their fair share.
To be a Democrat you must assume that any tax cut must be revenue neutral. That is, any tax cut must be made up elsewhere in the tax code so there is no loss of government income. That is a myth based on the idea that taxes are at an acceptable level today, Our corporate tax is the highest in the world today, which puts our corporations at a disadvantage compared to other countries. The problem, of course, is government spending. The cost of government never seems to go down. Salaries go up and up. Pensions are generous. The top 1% pay 39% of all taxes paid. The bottom half pay 3% of taxes.
But the Democrats are fighting to protect a $1.8 trillion tax break that benefits the top !%. So much for all those complaints about Republican tax ideas benefiting only the rich. Republicans tax-cut plans suggested eliminating state and local tax deductions for those who itemize. It seems that few, other than the very rich, bother to claim this deduction, but it is a very big deal for those who do itemize.
Used to be that government workers received about the same income as those in the same kind of jobs in the private industry. Now you’re way better off working for the government. Possibly we could stop the automatic raises, and get the distinction back to comparable worth for the same kind of jobs. How about a pay freeze for congressmen? They keep cutting the military pay.
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