The talking point became a mantra for Obama and the
Democrats during the run up to the election that the “rich” need to “pay their
fair share.” This class warfare line was repeated so many times that my ears
started to bleed.
The problem is, not one member of the lazy media ever
bothered to ask exactly what a “fair share” really amounts to! When you
consider that the Top 1% of earners pay 39% of the total income tax nut, the
Top 25% of earner clock in at 86% and the Top 50% reach 97% of all income taxes,
it seems like a relevant question.
Economist, Wall Street Journal editorial board member and
Club for Growth founder Stephen Moore not only asks the question, but provides
a clear, concise (just a shade over 100 pages) and easy to understand (even for
the average Obama voter) answer in his latest book, Who’s the Fairest of Them
All.. Simply put, this should be required reading for every American.
In the space of a couple charts and graphs, Moore slices, dices and hammers to dust the Liberal
argument against so-called “tax-cuts for the rich.” He details the undeniable
facts that every time it’s been tried, cutting tax rates has resulted in an
increase in the tax revenues to the treasury.
Surprisingly, Moore points out, “the Republicans almost universally opposed
and the Democrats almost universally favored” the cuts in income tax rates that
were proposed by President John F. Kennedy. Makes you wonder about what spurred
the 180 degree flip by the parties.
While Liberals may be allowed to
hold onto their own twisted version of reality, they are not allowed to twist
the facts. Moore
lays bare with facts the fallacy of the liberal mindset that tax cuts come with
a price tag to the government and that the only way to bring an increase in
revenues to the Federal coffers is to elevate the rate of taxation.