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Politics : Formerly About Advanced Micro Devices
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From: TimF3/5/2012 4:42:59 PM
3 Recommendations  Read Replies (1) of 1580134
 
Liberals and taxing the rich
By TigerHawk at 3/03/2012 01:50:00 PM

Michael Barone on "why liberals like taxing the rich." This bit is especially true:

ABC’s Charlie Gibson asked candidate Obama if he would raise capital gains taxes even if, as in the past, that brought in less revenue to the federal government. Yes, said Obama. “I would look at raising the capital gains tax for purposes of fairness.”

Ponder that answer for a moment. A candidate for president — president now — said he wants to take more money from people who earned it even though doing so would produce less money for the government.

The philosophy that has to be behind that answer is also behind the Obama administration budgets that have proposed capping the charitable deduction for high earners. The clearly intended result would be a massive transfer of money from the voluntary sector of society into government.

 Opposing Barack Obama on the last point is especially important: If we destroy the uniquely American propensity to do good works through private organizations, we will alter the character of the country forever. Not only will we have concentrated even more power in the central government, but we will have specifically undermined one of the principal mechanisms by which we bind our communities together -- charitable, civic, religious, and other voluntary groups that do good works.

tigerhawk.blogspot.com
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