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DUBIOUS 'TAX WISDOM'

November 13, 2004

The TaxProf Blog notes a web page in homage to the progressive income tax, 'Tax Wisdom.org'. Reading their tax policy prescriptions is like reading Dr. Kervorkian's works on wellness and long life, but they probably present the case for steeply progressive income taxes as well as it can be presented. A taste of their Tax Wisdom:

    * Even a  steeply progressive income tax---right up to 99% on the 
   highest incomes---would impose no loss of purchasing power on 
   wealthy income earners
    * Reducing the income tax rates of rich citizens will weaken the 
   economy if Congress cuts spending to pay for the tax cuts
    * Increasing the amount of taxes collected from wealthy citizens 
   will actually provide a stimulus to the economy
    * The rich cannot get richer---in real terms---by getting their taxes 
   cut, but they can become richer if they pay more in taxes
    * The government is a major producer of Real Wealth
    * An increase in the size of government is almost always quite 
   desirable
    * Wealthy citizens who are wise should be lobbying for an 
   increase in government spending and an increase in their tax 
   rates.

The rich can become richer by paying more taxes? Yeah, and you can regain your svelte high-school figure by eating more cheeseburger and milk-shake dinners, too.

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