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| mikejohnson | Posted: Apr 26, 2011 - 04:46 |
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 Level: 1 CS Original | Why Is Bill Clinton Cultivating Envy? Stephen Moore is director of fiscal policy studies at the Cato Institute. Added to cato.org on July 31, 1997 This article appeared on cato.org on July 31, 1997. Republicans shouldn't have wilted so easily. They should have met the class-warfare argument head-on. This is not -- nor has it ever been -- a nation principally motivated by greed and envy. Most Americans don't hate rich people as much as Dick Gephardt apparently does. Americans don't begrudge billionaires like Microsoft's Bill Gates or Federal Express's Fred Smith their fortunes. The vast majority of Americans don't want to tax the rich out of existence; they want to become rich themselves. http://www.cato.org/pub_display.php?pub_id=6111 Stephen Moore seems to be saying that you can tax the Rich into poverty is he correct or right ? | |||||
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| Ez | Posted: Apr 26, 2011 - 05:08 |
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 Level: 3 CS Original | The Cato Institute seems to be a libertarian think tank that promotes "free markets and limited government", in other words unregulated capitalism. I don't know whether he believes you can tax the rich into poverty, but knowing libertarians he probably believes America will be communist in 10 years (funnily enough this article was written in 97). Anyway, no it isn't possible to tax the rich into poverty (unless there was a 99% tax rate), and nobody wants to do this anyway, so its a moot point. Even if there was a 90% tax rate, if I earned 1 million dollars I would still be left with 100,000 which would probably not earn me the rank of "rich", but I'd still be well off. | |||||
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