By marfdrat on August 28, 2014
This is from a couple of years ago, but the premise is the same: folks who argue that the rich ought to “give back” (that is, pay taxes) at a higher rate than the rest of us are misinformed on a couple of key points.
By marfdrat on January 7, 2013
George Will thinks so. If you look at his logic -which involves the number of Democrats who voted to make most of the Bush tax rates permanent- it looks pretty solid (my bold emphasis).
By marfdrat on January 3, 2013
Well, most of you. And, the less you make, the more it will hurt. The payroll tax reduction, which -as part of the stimulus- took the rate from 6.2% to 4.2%, has expired. This tax affects everybody, but it has a cap – so people who make a lot of money only pay it on the first $113,700 of earnings.
By marfdrat on December 13, 2012
With President Obama intent on raising taxes on anyone making $250,000, it seems certain that a lot of small businesses will be impacted. A Chamber of Commerce survey confirms this:
A survey of U.S. Chamber small business members found that impending tax increases will slow hiring and stall business investment and expansion:
By marfdrat on December 4, 2012
I guess he does, if 41% of the people who voted for HIM say so. Another 41% say it ought to be done with spending cuts and taxes.
The coalition of voters that gave President Barack Obama a second term splits over how to reduce the deficit, according to a poll released Monday.
By marfdrat on October 13, 2011
Arthur Laffer is considered the “father” of supply-side economics, and famously demonstrated justification for lower tax rates with his “Laffer Curve” (read about the Laffer Curve here). Laffer says Herman Cain’s 9-9-9 plan for revamping the tax code makes a lot of sense:
By marfdrat on May 11, 2011
Herman Cain gives his plan for securing the border and dealing with the illegal immigration problem. It’s pretty sensible:
- Secure the border with technology and GUNS. If that means 6000 armed agents on the border, then that’s what we should do. Obama (*DfOaLG) made the nonsense statement in his speech yesterday that “the border fence is basically complete” – 650 miles out of 2000 is not complete; it’s a joke.
Posted in Economics & Politics, Liberty & Freedom | Tagged 2012 election, border, capital gains, citizens4cain, corporate taxes, economy, godfather's pizza, government spending, Government waste, herman cain, immigration, stimulus, tax rates, taxation, taxes, technology and guns | 1 Response
By marfdrat on March 27, 2011
So says Caterpillar Chairman and CEO Doug Oberhelman, in a letter to Illinois Governor Pat Quinn, who recently presided over a 66% increase in taxes in that state.
In a letter sent March 21 to Gov. Pat Quinn, Caterpillar chief executive officer Doug Oberhelman said officials in at least four other states have approached the company about relocating since Illinois raised its income tax in January.
“I want to stay here. But as the leader of this business, I have to do what’s right for Caterpillar when making decisions about where to invest,” Oberhelman wrote in the letter obtained Friday by the Lee Enterprises Springfield bureau. “The direction that this state is headed in is not favorable to business and I’d like to work with you to change that.”
Oberhelman said he’s being actively courted to move.
CAT, which employs 23,000 in Illinois, has received letters from at least 4 other states that are anxious to provide a less tax-hostile environment:
By marfdrat on March 3, 2011
Yes, I guess it is.
Michael Moore bloviates on how all that cash that rich people and corporations have is really “collectively a resource for all Americans…and we need to start taxing them at the ‘appropriate’ rates” so it’s spread out a little more evenly. Wait – haven’t I heard that “spread the wealth around” phrase before, from our Dear Leader (*DfOaLG)?
By marfdrat on February 7, 2011
Last time we talked about public works projects. They’re often necessary, and fulfill some important need for the citizenry. Large-scale projects, in particular, provide physical, visible, memorable evidence of the results: the Hoover Dam is a fine example of what can be accomplished, as are any number of bridges or other edifices. We also discussed the “unseen” aspect of public works projects: what is spent on these marvels of engineering is capital removed from the pockets of individuals, and not spent on items that produce economic growth.
Posted in The Dismal Science and Me | Tagged confiscatory tax policy, dismal science, Economic growth, Economics, government spending, Government waste, Henry Hazlitt, production, tax rates, taxes | 1 Response
By marfdrat on December 18, 2010
In recent weeks, as part of the debate over extending the Bush tax rates, we’ve heard caterwauling from the left about how we’re giving the rich a gift by only raising the estate tax back to 35%, instead of the 55% that it was before it fell to zero.