Inconvenient Tax Truths

Discussion in 'Politics' started by carpro, Oct 30, 2007.

  1. carpro

    carpro
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    http://www.opinionjournal.com/columnists/pdupont/?id=110010798

    Inconvenient Tax Truths
    Charlie Rangel and other liberal leaders want to raise tax rates even if it means lower tax revenues.

    BY PETE DU PONT
    Tuesday, October 30, 2007 12:01 a.m. EDT

    Nobel Peace laureate Al Gore believes global warming is "an inconvenient truth." Here are some economic truths that America's liberal leadership finds too inconvenient to support.

    Tax rate reductions increase tax revenues. This truth has been proved at both state and federal levels, including by President Bush's 2003 tax cuts on income, capital gains and dividends. Those reductions have raised federal tax receipts by $785 billion, the largest four-year revenue increase in U.S. history. In fiscal 2007, which ended last month, the government took in 6.7% more tax revenues than in 2006.

    SNIP

    One would think that this positive economic performance would inspire Congress to continue the successful policies that caused it. But the liberal establishment takes a negative view of tax rate reductions and embraces the opposite approach...

    SNIP

    Federal tax revenues have been rising between 6.7% and 14.5% in each of the past three years, but the proposed tax increases, by slowing rather than stimulating the economy, would ensure that these percentages decline.
     
  2. hillclimber1

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    It's just an amazing thing to me, the liberal mindset.
     
  3. bobbyd

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    You know they can find a lot better use for our money than we can, right?
    Give everyone free health insurance...since we can't afford it ourselves due to paying too much in taxes.
    Give everyone a free college education...since we are paying higher taxes it will make tuition payments almost impossible.
    Give more to the welfare system...since we can't afford to give to charities that actually work at helping the poor and getting them out of poverty due to higher tax rates.

    What would we do without our liberal leaders!!!:BangHead:
     
  4. Alcott

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    Inconvenient Tax Truths

    #1 We have to pay them.
     
  5. saturneptune

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    Create two new parties.
     
  6. JustChristian

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    Warren Buffet says he doesn't pay enough ntaxes. Of the 35 people in his organization, he pays the least percentage wise. That includes his secretary. Is that indicative of a fair system of taxation? By the way, what increases our taxes the most, those spendrift Democrats or those bloodthirsty Republicans? I don't think anything the Democrats have done or proposed comes close to the cost of the unjust war in Iraq. 1,2 3, 4 what are we fighting for? I sincerely don't know.
     
  7. billwald

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    I agree with Charlie R about 95% of the time. If I lived in NYC I would support him.
     
  8. Dagwood

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    Agreed! :thumbsup:
     
  9. carpro

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  10. hillclimber1

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    Warren Buffet says he doesn't pay enough ntaxes.

    simple class envy. A smart investor takes advantage of every opportunity available to maximize profits. He's very good at it.

    what are we fighting for? I sincerely don't know.

    How about freedom from world domination by Islam?
     
  11. hillclimber1

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    Islam is your enemy, whoever you are. I mean everyone not just you BB.
     
  12. JustChristian

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  13. TomVols

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    Buffet pays more in dollar amount than probably anyone in his organization. And considering that this man owns two of the top three manufactured housing subprime mortgage originators in the country, do we really look to this man as the bastion of economic goodness? He has refused to match monies in his organization donated to charity. Buffet is a capitalist, and he has every right to be, but he is no model of responsible capitalism or moral affluence, imho.
     
  14. hillclimber1

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    Curious: define "responsible capitalism".

    He's giving the bulk of his resources to the Bill and Melinda Gates philanthropic foundation. Or something like that .
     
  15. billwald

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    Satan and the real human owners of this world must be laughing at Gates and Buffet giving their money away to the poor. See www.prisonplanet.com www.coasttocoast.com and such who turn out to be correct more than half the time.
     
  16. TomVols

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    Good question.

    I believe that there are capitalists who see nothing but a bottom line and wish for nothing but profits at the expense of human welfare, and would do so without moral platitudes. As a Christian, I cannot in good conscience adhere to such a philosophy. I am a capitalist. I believe in free markets. But I am first and foremost a Christian. So I believe that with freedom - real freedom - there is responsibility. True capitalism sees responsibility within the free markets that is not government induced.

    Wayne Grudem's "Business for God's Glory" is helpful here. A theologian writing about business? How can you not love that? :applause:

    Remember that Buffett refuses to provide family members with any money and that he forbade any employee matching of charitable contributions in his companies. Two of his companies have major operations (both production and support facilities) in my metro area. The starting wage there is below the average for this area (Some jobs are almost 50% less). Buffett is altruistic? When it gets his name in the paper, maybe he is. Ask the Clayton family what they think of their selling Clayton Homes to him. Ask the Claytons what they think of Buffetts profits from Katrina (the scores of empty trailers and modulars you saw on tv.....Buffett's). Plus, I'm no real fan of his Keynesian philosophies, though there are worse sins.

    Mr. Buffett has every right to run his company the way he sees fit. I have the right to cringe when people praise his every move, particularly when some praise his so called altruisim.
     
    #16 TomVols, Nov 3, 2007
    Last edited by a moderator: Nov 3, 2007

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