According to Hillary Clinton, the rich aren\u2019t paying their fair share of taxes, not just in the U.S. but throughout the world:<\/p>\n
“The rich are not paying their fair share in any nation that is facing the kind of employment issues\u2026whether it’s individual, corporate or whatever\u2026taxation forms,” she told an audience at the Brookings Institute last week. But it\u2019s what Clinton did NOT say that is most revealing. For example:<\/p>\n
What is the definition of rich? Perhaps it\u2019s the top 10% of wage earners, anyone making over 200K, or the entire middle and upper classes, all of whom could be \u201crich\u201d by global standards.<\/p>\n
How much should the rich pay? Is 50% of their income enough, or do we need to go higher?<\/p>\n
Why should the rich pay more? The wealthy already pay taxes at higher rates and on higher amounts of income, and most of their taxes support programs for those in lower income brackets.<\/p>\n
Why not just cut government spending instead? Is she really suggesting that the current level of government spending and intervention in our lives is justifiable and worth sustaining with higher taxes?<\/p>\n
What, if any, additional government programs are needed? If we can continue to tax the rich, why not keep expanding the government even more? Don\u2019t forget her $5000 baby bond idea in 2007.<\/p>\n
What would happen to economic growth and development if taxes on the rich were raised to balance the budget? Raising taxes takes money out of the private sector that could be used much more efficiently to grow the economy and create jobs.<\/p>\n
Clinton didn\u2019t address these questions because the answers aren\u2019t really important. She also didn\u2019t consider the fact that confiscating 100% of the income from millionaires would not even be sufficient to balance the current budget. To her, it\u2019s all about politics, class warfare, and economic philosophy.<\/p>\n
Clinton did note an alleged correlation between high tax rates and high economic growth in Brazil, suggesting that we should follow the Brazilians as a means of growing our economy. Of course, she did not note some important distinctions, including the fact that Brazil doesn\u2019t have Freddie and Fannie facilitating a housing crisis in the name of social justice. While its economy has grown, the notion that Brazil\u2019s current approach should be the model for developed nations to follow is entirely without merit. History tells us that\u2014other things being equal\u2014low taxes and economic freedom foster growth. This has certainly been true throughout U.S. history.<\/p>\n
At least Clinton was honest, but her solution to our economic woes\u2014like Obama\u2019s\u2014is straight from the old liberal playbook\u2014more government and more wealth redistribution. Karl Marx couldn\u2019t have said it better himself.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to Hillary Clinton, the rich aren\u2019t paying their fair share of taxes, not just in the U.S. but throughout the world: “The rich are not paying their fair share in any nation that is facing the kind of employment issues\u2026whether it’s individual, corporate or whatever\u2026taxation forms,” she told an audience at the Brookings Institute […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts\/231"}],"collection":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=231"}],"version-history":[{"count":0,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=\/wp\/v2\/posts\/231\/revisions"}],"wp:attachment":[{"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/battle4liberty.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}