"Tax Cuts For The Rich"

[redcliffsw]

Rhetoric Rides Again
- Dr. Thomas Sowell

Let's face it, politics is largely the art of deception, and political rhetoric is largely the art of misstating issues. A classic example is the current debate over whether to give money to the unemployed by extending how long unemployment benefits will be provided, or instead to give "tax cuts to the rich."

First of all, nobody's taxes – whether rich or poor – are going to be cut in this lame-duck session of Congress. The only real issue is whether our current tax rates will go up in January, whether for everybody or nobody or somewhere in between.

The most we can hope for is that tax rates will not go up. So the next time you hear some politician or media talking head say "tax cuts for the rich," that will just tell you whether they are serious about facts or just addicted to talking points.

Not only are the so-called "tax cuts" not really tax cuts, but most of the people called "rich" are not really rich. Rich means having a lot of wealth. But income taxes don't touch wealth. No wonder some billionaires are saying it's OK to raise income taxes. They would still be billionaires if taxes took 100 percent of their current income.

What those who are arguing against "tax cuts for the rich" are promoting is raising the tax rates on families making $250,000 a year and up. A husband and wife making $125,000 a year each are not rich. If they have a kid going to one of the many colleges charging $30,000 a year (in after-tax money) for tuition alone, they are not likely to feel anywhere close to being rich.

Many people earning an annual income of $125,000 a year do so only after years of earning a lot less than that before eventually working their way up to that level. For politicians to step in at that point and confiscate what they have invested years of working to achieve is a little much.

It also takes a lot of brass to talk about taxing "millionaires and billionaires" when most of the people whose taxes the liberals want to raise are neither. Why is so much deception necessary, if your case is good?

rest of story:

http://www.wnd.com/index.php/index.php?pageId=236757

[thatsMRSc2u]

   Taxes will never be CUT.......if they just leave them at present levels I will be happier than not. I really don't give a shit about anybody elses taxes but ours.......I don't care how much billionaires pay....long as they dont go up for regular people.

   Anything else is just wishful thinkin and a colossal waste of time and energy for me. Railin against "the machine" is a waste of time.... either do somethin or just go about your day as best you can.

[frawin]

Good post Red, I find it interesting that aftrer bashing Bush for his Tax Cuts, Obama and company knew they had to extend them to get investors to invest and create jobs. Obama is having to sidetrack his Socialism push as he is afraid he won't be elected again in 2012.