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| Home Front: Politix |
| Thomas Sowell: Fake news - ‘Tax cuts for the rich' |
| 2017-05-05 |
| [The Citizen] One of the painful realities of our times is how long a political lie can survive, even after having been disproved years ago, or even generations ago. A classic example is the phrase "tax cuts for the rich," which is loudly proclaimed by opponents, whenever there is a proposal to reduce tax rates. The current proposal to reduce federal tax rates has revived this phrase, which was disproved by facts, as far back as the 1920s -- and by now should be called "tax lies for the gullible." How is the claim of "tax cuts for the rich" false? Let me count the ways. More important, you can easily check out the facts for yourself with a simple visit to your local public library or, for those more computer-minded, on the Internet. One of the key arguments of those who oppose what they call "tax cuts for the rich" is that the Reagan administration tax cuts led to huge federal government deficits, contrary to "supply side economics" which said that lower tax rates would lead to higher tax revenues. |
| Posted by:Besoeker |
| #3 See no, hear no, evidence of rent-seeking. Rent seeking is the MOST painful reality of our time. |
| Posted by: Anguper Hupomosing9418 2017-05-05 15:18 |
| #2 The reason the rich generally end up paying less taxes is because they are the only ones who pay taxes anymore. And the reason lower taxes end up increasing debt is because the federal government needs to reduce scope and increase efficiency. |
| Posted by: gorb 2017-05-05 10:22 |
| #1 I see his retirement didn't last long. Mind you, I'm glad. |
| Posted by: g(r)omgoru 2017-05-05 10:12 |