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An Overdue Book (Sowell on taxes)
Creators Sydicate ^ | November 27, 2012 | Thomas Sowell

Posted on 11/26/2012 2:24:04 PM PST by jazusamo

If everyone in America had read Stephen Moore's new book, "Who's The Fairest of Them All?", Barack Obama would have lost the election in a landslide.

The point here is not to say, "Where was Stephen Moore when we needed him?" A more apt question might be, "Where was the whole economics profession when we needed them?" Where were the media? For that matter, where were the Republicans?

Since "Who's The Fairest of Them All?" was published in October, there was little chance that it would affect this year's election. But this little gem of a book exposes, in plain language and with easily understood facts, the whole house of cards of assumptions, fallacies and falsehoods which constitute the liberal vision of the economy.

Yet that vision triumphed on election day, thanks to misinformation that was artfully presented and seldom challenged. The title "Who's The Fairest of Them All?" is an obvious response to liberals' claim that their policies are aimed at creating "fairness" by, among other things, making sure that "the rich" pay their "fair share" of taxes. If you want a brief but thorough education on that, just read chapter 4, which by itself is well worth the price of the book.

A couple of graphs on pages 104 and 108 are enough to annihilate the argument about "tax cuts for the rich." These graphs show that, under both Republican President Calvin Coolidge and Democratic President John F. Kennedy, high-income people paid more tax revenues into the federal treasury after tax rates went down than they did before.

There is nothing mysterious about this. At high tax rates, vast sums of money disappear into tax shelters at home or is shipped overseas. At lower tax rates, that money comes out of hiding and goes into the American economy,...

(Excerpt) Read more at ...

TOPICS: Business/Economy; Editorial; Politics/Elections
KEYWORDS: sowell; taxes; taxrates; thomassowell
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To: GeronL

i remember reading one of his columns many years ago and thinking, wow that is not correct. Later i figured out it was me that was wrong and not Prof. Sowell.

21 posted on 11/26/2012 8:34:38 PM PST by genghis
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To: genghis

Yes, I bet that happens to a lot of peole. Except liberals who would never ever admit they are wrong.

22 posted on 11/26/2012 8:37:40 PM PST by GeronL (
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To: All; Admin Moderator

The original link quit, here’s a working link:

23 posted on 11/27/2012 3:38:03 PM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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To: jazusamo

Thank you for the ping. It is too bad that the information in this book didn’t get out a year or more ago.

24 posted on 11/27/2012 4:04:08 PM PST by TheOldLady
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