Tuesday, September 20, 2011

"Class Warfare?" Yes and stupid too!

SEE HERE I liked all the answers especially Herman Cain's but perhaps the answer Bill O'Reilly gave last night on his show when he pointed out that the money invested to get a capital gain which is then taxed at a reduced rate was originally taxed at a higher rate before it was invested. So the person being taxed isn't paying the capital gains rate alone but the capital gains rate on top of the larger rate when he earned it in the first place. So the whole thing is just another episode of the politics of envy and paying no attention to the fact that it isn't going to work and will actually hurt the economy. The policies that work help the economy and produce substantial increases in revenue because wealth creation is not a zero sum game. The whole Obama administration flunks Economics 101.

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