Another day, another conservative / republican / libertarian prayer for the rich. See quote at end and check links for a bit of reality.
"On moral grounds, then, we could argue for a flat income tax of 90 percent to return that wealth to its real owners. In the United States, even a flat tax of 70 percent would support all governmental programs (about half the total tax) and allow payment, with the remainder, of a patrimony of about $8,000 per annum per inhabitant, or $25,000 for a family of three. This would generously leave with the original recipients of the income about three times what, according to my rough guess, they had earned."
UBI and the Flat Tax
The Great Corporate Tax Swindle | Common Dreams
"In terms of promoting economic growth, the Bush tax cuts have been a miserable failure. Under George W. Bush, U.S. GDP growth averaged 2.1 percent a year. Since the end of World War II, the country has never experienced such low economic growth during an eight-year period. And if you exclude the war demobilization of 1946, when U.S. government spending fell by two-thirds and GDP fell by 10.9 percent, Bush had the worst economic record since Herbert Hoover."
The Bush Tax Cuts: Failure Analysis by David Fiderer ? Failure magazine |
"There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well." Tax cuts spur economic growth
The tax changes didnÂ’t do much for Vermont, either. Job growth so far this decade is worse than any decade since the 1940s. We have fewer jobs today than we had in 2000."
Hoffman: Did tax cuts create jobs?
"But the record shows just the opposite. The national rate of job growth during George W. BushÂ’s tenure was the worst since the government starting counting in 1939....The tax changes didnÂ’t do much for Vermont, either. Job growth so far this decade is worse than any decade since the 1940s. We have fewer jobs today than we had in 2000."
Hoffman: Did tax cuts create jobs?
"I’m fully aware that I risk excommunication from the Church of Economic Science when I argue exactly the opposite: Tax cuts actually hurt the economy. It isn’t just that they don’t help, or that they’re ineffective—THEY REALLY HURT!" Spending Cuts Vs. Tax Increases at the State Level, 10/30/01
"What is a human life worth? You may not want to put a price tag on a it. But if we really had to, most of us would agree that the value of a human life would be in the millions. Consistent with the foundations of our democracy and our frequently professed belief in the inherent dignity of human beings, we would also agree that all humans are created equal, at least to the extent of denying that differences of sex, ethnicity, nationality and place of residence change the value of a human life." What Should a Billionaire Give – and What Should You?, by Peter Singer
And Reagan raised taxes numerous times.
Newsflash: Ronald Reagan Raised Taxes (You Idiots) | Firedoglake
"This disposition to admire, and almost to worship , the rich and powerful, and to despise, or, at least neglect persons of poor and mean conditions...is...the great and most universal cause of the corruption of our moral sentiments." Adam Smith