CATO:
In the New York Times, David Leonhardt cheerleads for a new plan by left-wing economists Emmanuel Saez and Gabriel Zucman to raise taxes on the rich by $750 billion a year. Leonhardt, Saez, and Zucman want to spend on a range of new government programs, such as pre-K education.
Liberals dream of a larger welfare state like they have in some other high-income countries. But if the United States goes down that road, the new spending probably wouldn’t be funded by taxes on the rich but by taxes on the middle class. We know that by looking at experiences abroad.
For its 36 member countries, the OECD publishes data on federal-state-local tax revenues as percent of gross domestic product (GDP). OECD average tax revenues are higher than tax revenues in the United States. Where do other countries get the extra money? Not from income taxes, but from consumption and payroll taxes that hit the middle class hard. read more
Trickle down taxonomics.
Emmanuel Saez and Gabriel Zucman.
Sounds like two 1930s anarchists.
Notice how prevalent foreign names are among those with radical ideas. Immigrants or first generation “americans” are busily trying to infuse socialistic ideas into our system.
This is the approach of flooding the zone with ideas that appeal to the ever growing parasite class. With the continuing flood of people into the country this will only get worse.
I’m sure the rich do see this as an existential threat. If it succeeds, and the middle class are bankrupted, the foundation the palaces of the rich squat on (the work of the middle class) will drop into the hole left. And then they, themselves, will be “only” middle class. The HORROR!
But the god they don’t believe in told me “not to covet”! Supporting the weakening of the threat of those that call me enemy is not “coveting”.
Here’s how it works: The more they tax the more they skim. That and if you hand a Socialist (or most politicians for that matter) more tax money, they will always find a way to burn through it!
Everyone trying to live at the expense of everyone else results in everyone learning to game the system just to survive, but when the stream of other people’s money runs out, the whole thing collapses. Socialism is legalized robbery or just another excuse to rob the rich, but guess whut? The Rich will simply go somewhere else! Now I don’t know about anybody else, but I never worked for a poor man!
Enter Trickle-Up Poverty!
The 16th was passed by a gullible public on the lie that only the top 1% would EVER have to pay!
They figure that we dummies will fall for their lies, again.
(probably right)
izlamo delenda est …
@TRF October 11, 2019 at 6:41 am
> The Rich will simply go somewhere else!
If the “other” that keeps bombing your house, stops bombing your house, do you really care if it was because his god changed his heart, your neighbor killed him, or his boss was replaced by the tranny his own neighbors elected their emperor?
No doubt that this is fully supported by the same asshole voters who believe the ACA would give them cheap healthcare. There’s stupid, really fucking stupid, and then democrat voter stupid.
How is this news? One of the stated goals of Communism is to destroy economic mobility by destroying the middle class.
If I have millions, I can certainly suspend income-creating activities until the pirates are out of office, and live off the offshore interest.
Commies aren’t too prescient about the unintended consequences of their actions..
Anonymous – you’re right – it’s more like “envy”.
‘Morph’? More like ‘start’.
Pre-K education because all the single moms are out working and can’t raise their little pre-thugs. Plus the gov’t can start indoctrinating the little low-IQ spawn from age two this way. Don’t worry! I’m happy to pay for other people’s incredible mistakes. They’ll have 25 grandchildren (all on my dime) while I’ll likely have none. I know that I can’t afford a kid so I don’t have one. But I’m more than happy to be taxed for 45 years to pay for other people’s children. Sounds fair to me!
All the fat children are going hungry!
They don’t have to raise taxes on the wealthy to add more taxes to the middle class. Heck, they, at all levels of the government, do it everyday and in every way possible!
It starts as a “temporary” tax (in Ontario it was the “Fair Share Health Levy”, notice the word tax missing) that was supposed to be only on the rich and upper middle class but morphed into a permanent tax (it was renamed but I can’t recall what it was) and drifted down to everyone from lower middle class and up. A politician will never voluntarily give up a tax (Reagan and Trump aside although, and feel free to correct me, I think they lowered taxes or suspended them rather then outright eliminated them) because that’s where their power comes from. That’s the money used in pork projects that keep them in office regardless of whether the project contributes something meaningful to the country.