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Tom Sowell on Taxes

Thursday Dec 2 2010

The liberals in congress want to raise taxes on high earners. Yet IRS records clearly show this does not increase tax revenues. When Congress has raised tax rates, the number of high earners mysteriously disappear. President Obama has had this pointed out to him yet he rails on about fairness. Nothing is fair about tax policy unless all pay the same rates, period. 

Check out the record for yourself in this Tom Sowell column linked above. If you were making a milion in ordinary income and congress asked for more, what would you do?  Most change their business arrangements and report less income.

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2 responses to “Tom Sowell on Taxes”

  1. Alice D Hernandez 3314.950 Avatar
    Alice D Hernandez 3314.950

    Raising taxes on high earners might not be the answer, but something definitley must be done soon with our current tax law…
    Substantial amount of tax revenues are lost this year alone due to no Estate tax with the passing of several billionaire’s this year. Not to mention all the craziness coming from the “set to expire” Bush tax cuts!!

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  2. Dennis Elam Avatar
    Dennis Elam

    Alice
    who would do the better job of spending the money, the federal govt or those billionaires? We know the Federal Govt will send money to states and cities that need to be bailed out as they have over promised their unionized workers, Detroit, New York, Chicago
    Those evil rich guys on the other hand, well here in San Antonio for example we have the McNay and Witte Art Museums, donors also support the San Antonio Art Museum. If that money had gone to the Federal Govt does anyone think it would have built at art museum in San Antonio?
    The estate tax never breaks up the estates of the well to do, and is a real headache for the family farm or ranch with valuable land but not the cash flow to pay an estate tax.
    We now pay the highest corporate taxes in the world.

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