A Quote by Dean Baker
I don't think "Reganomics" will ever fully end. I mean, Reaganomics, to put it simply, was trying to get low taxes for wealthy people. And wealthy people are still there pushing for low taxes.
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A lot of really smart, wealthy people know that [slashing taxes on the wealthy hasn't worked.]
Traditionally, Conservatives have argued that low taxes are a route to self-determination. I agree. It is vital we keep taxes low and the size of the state in check, to allow people to spend more of their own money.
The government taxes you when you bring home a paycheck.
It taxes you when you make a phone call.
It taxes you when you turn on a light.
It taxes you when you sell a stock.
It taxes you when you fill your car with gas.
It taxes you when you ride a plane.
It taxes you when you get married.
Then it taxes you when you die.
This is taxual insanity and it must end.
If most of the breaks go to wealthy people it's because most of the people who pay taxes are wealthy.
Wealthy people don't even pay taxes. But everybody must pay taxes.
Imagine his delight after it 'leaked' that he will propose raising taxes on the wealthy by $320 billion over the next 10 years, including increases to the capital gains and inheritance taxes.
Cutting taxes is not bad. But if you cut taxes on the wealthy, which is what they wanted to do, you're not helping people who need better schools and better infrastructure and healthcare. You're basically robbing the middle class and the poor to provide tax cuts to the rich.
The argument that any income redistribution is tantamount to socialism, and that socialism has always been unAmerican, has helped legitimise keeping taxes on America's very wealthy very low.
Trickle-down did not work. It got us into the mess we were in, in 2008 and 2009. Slashing taxes on the wealthy hasn’t worked. And a lot of really smart, wealthy people know that. And they are saying, hey, we need to do more to make the contributions we should be making to rebuild the middle class.
There's no reason to raise taxes. Taxes should be lower... The problem we have is that government spends too much, not that taxes are too low.
Cutting taxes even more on the wealthy and corporations, that's not going to help anybody except the wealthy and corporations.
Between income taxes and employment taxes, capital gains taxes, estate taxes, corporate taxes, property taxes, Social Security taxes, we're being taxed to death.
If ever there were a case for raising taxes on the wealthy, it's Andrew Bynum.
The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.
Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.
Hiking taxes on the so-called wealthy would help send us into a recession because so many small businesses report their income on individual tax returns. If taxes are raised, they will be less likely to be able to hire new workers and make new capital investments.
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