Tax Policy

Why Republican Tax Cuts Always Cause A Financial Crash and Economic Disaster

This is the third edition of this post. I first wrote most it when Obama thought he had achieved the golden unicorn of a bipartisan tax reform deal that included big cuts in the deferred earned benefits programs of Social Security and Medicare. I posted it again in January of this year when it was rolled out as Trump's tax cuts accompanied by a "big" infrastructure spending program.

Is The Income Tax Unfair To Rich People?

One of the hallmarks of the ideological Left since the late nineteenth century is the shared belief that it is more than fair to tax the incomes of rich people at much higher rates than wage earners are asked to pay.

Generally speaking, Leftists believe that a country's tax code should be based on the principle of 'equality of sacrifice.' As guiding principles go, I have long believed that this one is intellectually unassailable.

But in spite of the virtue that I and others have seen in it, the bottom-line political reality we are dealing with is that most rich people believe that the Income Tax is unfair to people like them.

I have recently published an article on my website which directly addresses this head-scratching phenomenon of self-pity among the ranks of the privileged elite: "Is The Income Tax Unfair To Rich People?"

Here is a rather informative excerpt:

On Democracy, Justice, HRC & Circular Firing Squads

Cross-posted from GOS.

Widely distributed income and wealth and the power and influence they confer within the public sphere are VITAL to democracy and justice. Real democracy and justice will not, cannot exist when income, wealth and power are highly concentrated.