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A Thought About Tax Rates

"The argument we hear today over and over is that if we take from the rich who have so much, and do so through high tax rates, we can help the poor. President Obama says these rich people -- the millionaires and billionaires -- "don't need the money." So this evidently gives license to the government to take it. In reality, a lesson . . . is that high tax rates stifle individual initiative, chase capital and businesses away, and often hurt the poor the most. The rich in America are generally business owners and investors . . . output is usually higher when tax rates are lower. So high tax rates may lead to more equality, but at the price of less growth and less to divide."

~ Stephen Moore, page 14, "Who's the Fairest of Them All?"

HT Barnes & Noble


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