Crush Liberalism

Liberalism: Why think when you can “feel”?

Quote of the day, “Why jacking up taxes on the rich never seems to work” edition

If only those evil rich people would pay a higher percentage of their income in taxes, the government would get a TON more money, right?  Yeah, right:

The feds assume a relationship between the economy and tax revenue that is divorced from reality. Six decades of history have established one far-reaching fact that needs to be built into fiscal calculations: Increases in federal tax rates, particularly if targeted at the higher brackets, produce no additional revenue. For politicians this is truly an inconvenient truth.

Click over to the link to see the chart and read the info for yourself.

We could tax the “rich” at 100% of their income, and it wouldn’t even be enough to cover this year’s deficit, much less the budget’s expenditures.  Guess what?  The rich didn’t get rich by being stupid, so they will have an incentive to shield as much of their income from confiscatory taxes as they legally can.

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April 21, 2011 - Posted by | big government, economic ignorance, taxes

7 Comments »

  1. I think part of the reason they keep looking to raise taxes, instead of figuring out how not to pay $125 Billion PER YEAR in Medicare fraud for example, lies in this study by Zogby. http://goo.gl/FQetg

    Comment by Im_bonafide | April 22, 2011

  2. Its vote farming, nothing else

    Comment by Kevin | April 22, 2011

  3. Make AL GORE and his fellow eco-wackos pay HOT AIR TAXES for all the hot air they produce everytime they open their big fat pieholes

    Comment by SPURWING PLOVER | April 22, 2011

  4. At the heart of wanting to tax the rich and the class warfare the Liberals are trying to promote is sin. The Dems encourage the sin of coveting the wealth of the rich, then use the tax code to steal the wealth and redistributing through government programs to buy votes. In the end the non rich become addicted to the government largess and you end up with the situation we have now.

    Sin will always lead you down the road of disaster.

    Comment by Steve | April 22, 2011

  5. Steve, you nailed it…and they look to Man for their salvation (Jeremiah 17:5)

    Comment by Kevin | April 22, 2011

  6. For the longest time I didn’t think I knew anything about economics. Boy, did the present administration prove me wrong. I know a hell of a lot more than they do. And, they get paid the big bucks to come up with the crap they spin. This latest spin from the “messiah” really shows how economically ignorant they are.
    Can I wake from this nightmare now? Please.

    Comment by J.Guidry | April 22, 2011

  7. Taxing the rich never seems to work? “OBJECTION YOUR HONOR!!!”
    Judge “On what grounds?”
    Response “It’s devastating to my CASE”
    (Liar Liar reference)
    Liberals don’t care if it never seems to work…just keep TRYING!

    Comment by Kevin | April 28, 2011


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