The Never-Ending Quest for Tax Red Herrings
from Too Much: A Commentary on Excess and Inequality:
The Never-Ending Quest for Tax Red Herrings
December 9, 2012
The political friends of Americas rich arent aiming to convince us that higher taxes on the nations highest incomes make no sense. Theyre just hoping to keep us distracted.
By Sam Pizzigati
Why do so many lawmakers in Congress oppose raising taxes on Americas wealthy, even just a little? The answer: Well never really know for sure.
Lawmakers might deep down oppose tax hikes on the wealthy, for instance, because their wealthy campaign contributors dont want to pay any more in taxes. Or they might oppose bigger tax bills for millionaires simply because they dont want to pay Uncle Sam a cent more of their own million-dollar incomes.
Lawmakers under the influence of either of these motives would, of course, never openly admit to them. How could they and politically survive? Simple political reality demands that rich people-friendly lawmakers must solemnly proffer much more noble rationales for zealously shielding rich peoples income from taxes.
Raising taxes on high incomes, weve been assured since long before the fiscal cliff debate, will discourage small business job creators. Higher taxes on the rich, were told, always backfire and never generate the revenue anticipated. ........................(more)
The complete piece is at:
http://toomuchonline.org/the-never-ending-quest-for-tax-red-herrings/