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Paul Krugman and Robert Reich's Tax Deception
Forbes ^ | 12/05/2011 | Lawrence Hunter

Posted on 12/05/2011 6:39:25 AM PST by SeekAndFind

Robert Reich and Paul Krugman are preeminent mainstream-media mouthpieces of the redistributionist welfare state. They constantly disseminate the myths that the rich don’t pay their fair share of taxes, and Congress is about to “slash taxes on the very rich”.

Yet they never attack the real source of America’s problems, crony capitalism, the economic foundation of the welfare state in which rich and poor alike are partners in crime with the government to rip off their fellow Americans. Reich and Krugman also propagate the myth that America’s deficit and economic problems could be eliminated simply by raising taxes on “the rich” and spending the new revenue on bigger government.

First, no one (unfortunately) is suggesting “slashing” tax rates for anyone. The question on the table for Congress to consider is whether it will dramatically increase tax rates next year—tax rates that have been on the books for almost a decade now—by permitting automatically scheduled rate hikes to take effect. Unless Congress acts to override this trigger, it willfully will be allowing the largest tax increase in history to go into effect. If Congress acts to maintain current tax rates, it won’t be cutting taxes by a dollar; it will simply be preserving the status quo and preventing a huge tax increase from occurring.

Interestingly, the Reich-Krugman logic on taxes doesn’t seem to apply in Washington on the spending side. The minute the Super Committee failed to come up with the $1.5 trillion in deficit reduction measures required by the debt deal passed earlier this year, Members of Congress on both sides of the aisle began talking about switching off and rejiggering the $1.2 trillion in automatic sequester cuts that were triggered by the Super Committee’s failure to complete its task in order to avoid automatic spending cuts they don’t like.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Government
KEYWORDS: krugman; reich; tax; taxes

1 posted on 12/05/2011 6:39:37 AM PST by SeekAndFind
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To: SeekAndFind

Reich is a 4’ tall troll who has never had an original idea in his life.


2 posted on 12/05/2011 6:45:08 AM PST by econjack
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To: SeekAndFind

RAT math. If you don’t increase the tax rate, that’s a tax cut.


3 posted on 12/05/2011 8:04:07 AM PST by stylin19a (obama - "FREDO" smart)
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