Skip to comments.Paul Krugman and Robert Reich's Tax Deception
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 dont 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 Americas 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 Americas 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 yeartax rates that have been on the books for almost a decade nowby 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 wont 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 doesnt 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 Committees failure to complete its task in order to avoid automatic spending cuts they dont like.
(Excerpt) Read more at forbes.com ...
Reich is a 4’ tall troll who has never had an original idea in his life.
RAT math. If you don’t increase the tax rate, that’s a tax cut.