Posted on 11/08/2010 10:11:19 AM PST by Nachum
The White House recently released a video, narrated by Austan Goolsbee of the Council of Economic Advisers, asserting that higher tax rates on the so-called rich would be a good idea.
Since Goolsbee’s video made so many unsubstantiated assertions and was guilty of so many sins of omission, here’s a rebuttal video, narrated by yours truly.
This new Center for Freedom and Prosperity video includes the full footage of the White House production, so viewers can decide for themselves which side is correct.
This rebuttal video, incidentally, only scratches the surface. There was not enough time to cite the wealth of data and research showing how higher taxes undermine economic performance. There was not enough time to address some of the additional flaws of class-warfare tax policy. And there was not enough time to show how simple it is to balance the budget without higher taxes.
Given the time constraints, the video highlights three fundamental flaws in Goolsbee’s presentation.
1. The economy is not a fixed pie. Notwithstanding all evidence, there is a near-religious view on the left that the rest of us somehow must have less if a rich person earns more. The video highlights important evidence on income mobility and economic growth.
(Excerpt) Read more at biggovernment.com ...
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