Political Quotes

“With this view in mind, it is not hard to imagine proposals for taxes upward of 73 percent because those megarich business owners simply won't flinch. The Democrats' burning desire to raise taxes seems to confuse income and wealth. They abhor the outsized wealth accumulation of the megarich, even though they love the campaign contributions flowing from them. They seem to think that massive increases in income taxes will cure the growth in inequality observed over decades in the United States and in many foreign economies. Some of our Nation's wealthiest individuals, such as Bill Gates and Warren Buffett, join this chorus and call for higher taxes on others, even though they channel large portions of their wealth to private foundations, revealing their preference for resources to be allocated in the private sector rather than by the government. Even our President calls for more taxes on himself, although he could write a check to the IRS at any moment. He calls for a Buffett rule, even though he paid a tax rate of 26.3 percent in 2010, which, according to a recent Congressional Research Service analysis, means the President violates his own idea of the Buffett rule by paying a lower tax rate than well over 10 million more moderate income taxpayers. The past few months have witnessed a variable menu of tax rates offered by my friends on the other side of the aisle. They claim these tax increases will secure equality, economic growth, job creation, and more.…”