TraditionalMan

On November 18, 2012, Op-Ed Columnist Paul Krugman (NY Times) made the following comments: “Consider the question of tax rates on the wealthy. The modern American right [sic], and much of the alleged center, is obsessed with the notion that low tax rates at the top are essential to growth.”  Mr. Krugman is, as are most Liberal pontificators, wrong.  The “modern American right [sic]” IS obsessed with the notion of FAIR tax rates for all and constitutional use of the taxpayer’s money.  However, he uses the rationale that “…in the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent”.  And that “[t]he best estimates suggest that circa 1960 the top 0.01 percent of Americans paid an effective federal tax rate of more than 70 percent, twice what they pay today”.  He, of course, provides no objectives (necessary or otherwise) for the government’s USE of the money.  Just that there is no reason the government shouldn’t take it.  He ended his diatribe suggesting how well the country prospered under such conditions.  So many of these clueless Libs fail to take into account two very important things.  First, what would have been different for the American worker had the tax rate actually been reasonable?  Would not the additional capital in the hands of the job creators led to even more prosperity?  Far more than the government waste or give-away schemes?  Second, how many other people would have been motivated to “get rich” via entrepreneurship or increase investments in established companies and increase even more the number of high-paying jobs in the workforce?  The considered answer is quite obvious to even the most casual of observers.  Sucking every penny from those that provide jobs is quite ill-advised – or, phrased a less eloquent way, just say plain stupid.  The Modern American Left on the other hand is obsessed with the complete redistribution of wealth regardless of the long term impact to debt, unemployment, wages, etc.  People exist; therefore they must have things.  Somebody else has to pay for it?  Sorry.  They don’t have to work for it?  Of course not.  The Libs’ misguided and imprudent programs cannot be afforded by the “wealthy” when one considers that even taking every dime they have would not be enough.  Hence, the crushing debt.  Not due to too low tax rates but to there not being enough money in the country to pay for it all.  The absurdity of the Left’s position on this is beyond rational.

There will of course be more on this topic in the future.  It is just too easy to explain how wrong they are.  It just baffles me how they can draw so many theoretically intelligent people into their way of thinking.

>>> The day is at a close, the night is drawing in and my cigar awaits – ’til next time…