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  • Quote of the Day

    Posted by Jonathan on October 31st, 2011 (All posts by )

    Warren Meyer:

    If the very rich got that way through special access to government power, then why is the solution to tax them more, and not just to reduce government power?
    And if the very rich got that way through hard work and innovation, then why the hell are we proposing to take resources out of these people’s hands?


    4 Responses to “Quote of the Day”

    1. Michael Hiteshew Says:

      The answer, Alex, is “What are two important questions the Left is not asking.”

    2. Bill Brandt Says:

      That makes too much sense.

      Can’t have that.

      Besides something like 3=5% of the upper incomes pay almost 50% of the income tax, while almost half the country pays nothing.

      Which makes me wonder exactly what “fair share” means.

    3. Tatyana Says:

      Pithy said.

      [aside: J, maybe you shouldn’t reveal the name of the blogger; at the link his name is no immediately apparent. He might prefer to remain under a pseudonym]

      Bill, that number – half a country doesn’t pay taxes at all – have been suspect to me for some time. Per my own experience, even when the only source of income is unemployment payments, one is still taxed under 15% bracket. Of course, people with outstanding mortgages and several young kids can get tax credits, but I don’t think they constitute 50% of the country – and the rest of the credits available to minimize one’s taxes are so rare (like writing in amortization of farm equipment or being a member of Native American tribe, etc), that must be negligible in the big picture. I don’t know…I have had several conversation on this topic with ppl on the net – and usually the most firebreathing defenders of that figure are people who earn good money, pay a lot of taxes and never lost a day out of job.

    4. Phil Says:

      If nothing else, they get to pay the taxes the rich and the corporations are paying. Effectively, corporate taxes work about the same as a VAT or sales taxes. We just pretend otherwise.