Obama's Mandate to Raise Taxes on the "Rich"

[usmcstinger]

Mr. Prescott, co-winner of the 2004 Nobel Prize in Economics, is director of the Center for the Advanced Study in Economic Efficiency at Arizona State University. Mr. Ohanian, the associate director of the center, is a professor of economics at UCLA and a senior fellow at Stanford University's Hoover Institution.

Research by others (including Lee Ohanian, Andrea Raffo and Richard Rogerson in the Journal of Monetary Economics, 2008, and Edward Prescott in the American Economic Review, 2002) indicates that raising tax rates further will significantly reduce U.S. economic activity and by implication will increase tax revenues only a little.
Prescott and Ohanian: Taxes Are Much Higher Than You Think - WSJ.com

Those who can read and comprehend this article will learn. Those who can't should get some person to explain it to them. There will be those who continue to believe that this administration knows what is good for our economy. Therefore, reading or listening to any other economic information is not necessary.

 

[clevergirl]

And even more information to support the notion...

Debunking Liberal Myths About Tax Cuts and the Economy

 

[SniperFire]

Normal people know 'tax the rich' is a populist charade mouthed by socialist 'fairness' pimps which really won't do a thing to address the problems in America.


But they go along with it because they are starting to like the free gubmint stuff.

 

[Soggy in NOLA]

Normal people know 'tax the rich' is a populist charade mouthed by socialist 'fairness' pimps which really won't do a thing to address the problems in America.


But they go along with it because they are starting to like the free gubmint stuff.

No shit.... it's he argument of the hopelessly stupid.