Thursday, August 12, 2010
The Soak-the-Rich Catch-22 - WSJ.com
The tax cut argument is once again in the forefront of the news.
The arguments are always the same. One argument, as quoted below, seems to hold true.
Can you guess who said it?...
The arguments are always the same. One argument, as quoted below, seems to hold true.
Can you guess who said it?...
Arthur Laffer has the quote and more in the Wall Street Journal:
"Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues."
