OMG! The
author is a Nobel laureate! Just like Obama and Al Gore! That changes
everything! Obviously MIT is not known for economics and these clowns live in
the same Utopia as the first 7, now 8th Ivy League Professor, that Obama has
recruited to run his economic team-and we all know how successful they’ve been.
The blatant and profound lies printed in this article are so insulting; I'm
shocked the WSJ published them. “… There’s
no evidence to support a case for lower
growth from higher top tax rates."? On the
contrary- there is a ton of evidence, many studies and bona fide historic
precedent proving that high taxes discourage growth, moreover, there is
absolutely ZERO evidence proving otherwise. Do these, double talking, Alphabet Soup, Nobel
laureate Leftists truly believe we’re idiots?
Are they confusing their audience with a gathering of Obama worshipping academic
ideologues? Where are the studies to
which they allude and precisely what are the parameters of these specious
studies? They brush off Arthur Laffer's
fact based work, as if it proves their Utopian fantasy, when in fact it proves
just the opposite. There is no evidence?
Please! The tax policies implemented by
Calvin Coolidge's during his term in office; Ronald Reagan's Tax Policies;
JFK's Tax policies; the tax policy implemented during the George W Bush's
Presidency, as well the deleterious tax policy changes put into law by his father,
Herbert Bush; the economic policies of post
World War I Germany; Argentina in the 1970's; Japan from 1970-2012 - all provide vivid
examples, demonstrating exactly how high tax margins on what these Marxist
clowns refer to as the 1%, decrease tax revenue receipts. The scurrilous 'Sorosesque” authors of this
Obama Policy promulgating, propaganda piece, incorporate some of the most
common Leftist subterfuge techniques. First,
do they ever mention that 67 to 78% of their, so called, 1% are small business filing
as S Corps? The same small business which create jobs, give pay increases to
employees and always look to expand their businesses? Of course these uses of revenue are trivial
compared to the great things Government investments accomplish. Next, they blather about the virtues of public
investment and investing in education, as if we were asleep, the last three
years, as Obama threw trillions of our tax dollars down this “Government knows
best” black hole. Then they revert back to the Left’s standard specious
delusion that “America did best when tax rates were 70%to 90%” after WWII. The fact that we had a booming economy from
World War II to the mid 1970’s was in spite of the fact that we had ridiculously
high income tax rates which were retarding growth. It was the fact that Japan was a cinder,
Germany was ruble, England had gone bankrupt and all of Europe was lying on its
back after the War. We had zero
competition for two and a half decades as a result of the Second World
War. We were the only major industrial nation,
that wasn’t attacked during the Second World War and that’s why we had
unprecedented economic expansion. So
it’s completely a red herring to talk about that period as the growth being the
result of high taxes, it was in spite of the high taxes. Furthermore, it was because of a historical
anomaly which will never happen again.
Finally, it’s important to recognize that these Bozos, like most
leftist con-men are mixing apples and oranges, they’re talking about income
taxes, when the tax they’re actually talking about (IE) The Buffett Tax, is a disguised
capital gains tax. And history is clear
-the reason, not just Ronald Reagan, but John Kennedy, asked for and got a
reduction in the capital gains tax is that it spurs economic production and it increases the revenues received
by treasury.
