Friday, November 25, 2011

Tax Rates vs. Tax Revenue

Charles Krauthammer makes an important point about the Democrats' unwillingness to distinguish between tax rates and tax revenues. To state what ought to be obvious, it is only increased tax revenues, however they are raised, that will pay the bills.  The nation's creditors will not be impressed nor satisfied if we come to them with a big tax rate.  "So what?  Show me the money!", they will scream.

Krauthammer attributes the Dems fixation on rates rather than revenue to a foolish, but otherwise benign "thickheadedness."   I disagree. 

The Democrats are not stupid, they're crazy, as in mad.  Their principal and defining commitment is to equality (itself animated chiefly by envy, I might add) and they aim to pursue it, and aggressively so, no matter the costs or consequences to the country.  As they see it, leveling through a progressive, punishing, soak-the-rich tax code of ever-increasing income tax rates, is the best, is the only way to achieve a fair society.  It's a quasi-religious commitment on their part.  Hence, they refuse to be reasoned away from it and no preponderance of evidence against it will ever convince them otherwise.

The only thing that will stop them, and I do mean the only thing, is electoral defeat.


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