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| NYT Hoping Religious Right Will Go Away | You've Got to be Kidding, Girls |
Stuck on Stupid? Dems Want Carter Era Tax Rates
by Christopher Chantrill
October 30, 2007 at 4:44 am
THE CENTRAL idea of the Reagan revolution was that punitive tax rates, like the 70 percent top rate on “unearned” income, was a jobs killer. Greedy entrepreneurs just won’t go out and risk capital when the government is going to claw back up to 70 percent of their earnings.
Liberals sneered at the Laffer Curve and called it “trickle-down” economics. But they pocketed their TIAA-CREF pensions swollen with the gains from a stock market that went from 1,000 to 10,000 in 20 years with nary a squeak.
Now Democrats like the sepuagenarian Charles Rangel want to return to those days, last seen in the Carter administration, by raising tax rates for high-income Americans. James Pethokoukis explains.
[Rangel’s 4.6 percentage-point surtax on high incomes] only looks like a restoration of [Clinton’s tax rates]. But if the Bush tax cuts expire, the four-and-a-half points stays on top of the 39.6 [top Clinton tax rate]. So they are taking the rate to 44 percent. Then you add on 1.3 points ... another 2.9 points on top of that for the Medicare tax. So we are back to the 50 percent marginal rate under that plan.
But that’s just the beginning. In addition, the Democrats are talking about raising the cap on FICA taxes. So that’s another 7 1/2 percent. Now we are talking about 60 percent marginal taxes. On wages.
Let’s not forget, by the way, that the top 1 percent of taxpayers already pay 37 percent of federal income taxes, and that the top 50 percent of taxpayers pay 97 percent of federal income taxes. Check it out at RushLimbaugh.com (truth in taxes) or the IRS(xls).
It’s just like the 1930s when for ten years, the United States was Stuck on Stupid.
Sphere: Related Content |Christopher Chantrill blogs at www.roadtothemiddleclass.com. His Road to the Middle Class is forthcoming.
Comments:
Posted by: Appevetuh on 11/09/07 12:48am
Where I can find good quality films? Can anyone help me?
What Liberals Think About Conservatives
[W]hen I asked a liberal longtime editor I know with a mainstream [publishing] house for a candid, shorthand version of the assumptions she and her colleagues make about conservatives, she didn't hesitate. “Racist, sexist, homophobic, anti-choice fascists,” she offered, smiling but meaning it.
Harry Stein, I Can't Believe I'm Sitting Next to a Republican
US Life in 1842
Families helped each other putting up homes and barns. Together, they built churches, schools, and common civic buildings. They collaborated to build roads and bridges. They took pride in being free persons, independent, and self-reliant; but the texture of their lives was cooperative and fraternal.
Michael Novak, The Spirit of Democratic Capitalism
Society and State
For [the left] there is only the state and the individual, nothing in between. No family to rely on, no friend to depend on, no community to call on. No neighbourhood to grow in, no faith to share in, no charities to work in. No-one but the Minister, nowhere but Whitehall, no such thing as society - just them, and their laws, and their rules, and their arrogance.
David Cameron, Conference Speech 2008
Socialism equals Animism
Imagining that all order is the result of design, socialists
conclude that order must be improvable by better design of some superior mind.
F.A. Hayek, The Fatal Conceit
Sacrifice
[Every] sacrifice is an act of impurity that pays for a prior act of greater impurity... without its participants having to suffer the full consequences incurred by its predecessor. The punishment is commuted in a process that strangely combines and finesses the deep contradiction between justice and mercy.
Frederick Turner, Beauty: The Value of Values
Religion, Property, and Family
But the only religions that have survived are those which support property and the family.
Thus the outlook for communism, which is both anti-property and anti-family, (and also anti-religion), is not promising.
F.A. Hayek, The Fatal Conceit
Racial Discrimination
[T]he way to achieve a system of determining admission to the public schools on a nonracial basis,
Brown II, 349 U. S., at 300301, is to stop assigning students on a racial basis. The way to stop
discrimination on the basis of race is to stop discriminating on the basis of race.
Roberts, C.J., Parents Involved in Community Schools vs. Seattle School District
Postmodernism
A writer who says that there are no truths, or that all truth is ’merely relative’, is asking you not to believe him. So don’t.
Roger Scruton, Modern Philosophy
Physics, Religion, and Psychology
Paul Dirac: “When I was talking with Lemaître about [the expanding universe] and feeling stimulated
by the grandeur of the picture that he has given us, I told him that
I thought cosmology was the branch of science that lies closest to religion.
However [Georges] Lemaître [Catholic priest, physicist, and
inventor of the Big Bang Theory] did not agree with me. After thinking it over he
suggested psychology as lying closest to religion.”
John Farrell, “The Creation Myth”
Pentecostalism
Within Pentecostalism the injurious hierarchies of the wider world are abrogated and replaced by a single hierarchy of faith, grace, and the empowerments of the spirit... where groups gather on rafts to take them through the turbulence of the great journey from extensive rural networks to the mega-city and the nuclear family...
David Martin, On Secularization
Never Trust Experts
No lesson seems to be so deeply inculcated by the experience of life as that you should never trust experts. If you believe doctors, nothing is wholesome: if you believe the theologians, nothing is innocent: if you believe the soldiers, nothing is safe. They all require their strong wine diluted by a very large admixture of insipid common sense.
Lord Salisbury, “Letter to Lord Lytton”
Mutual Aid
In 1911... at least nine million of the 12 million covered by national insurance were already members of voluntary sick pay schemes. A similar proportion were also eligible for medical care.
Green, Reinventing Civil Society
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