Saturday, September 08, 2012

Reagan Economic Advisor Debunks the Biggest Tax Myth

Former Reagan economic adviser Bruce Bartlett only needs a minute to debunk the prevailing notion that keeping taxes lower on rich people creates growth and jobs.

Low taxes on the rich do NOT result in growth and jobs. That's a myth.

Well, actually it's a lie. An expensive lie paid for by the rich who had their taxes lowered by G W Bush, which contributed to the economic crisis. A lie perpetuated by the Romney campaign, possibly because Romney and Ryan are extremely rich and prefer to have their tax rate lower than ordinary working people.

Higher taxes on the rich do NOT result in economic decline or recession or loss of jobs or growth. Quite the opposite. Reagan raised taxes in 1982 and the economy did better. Clinton raised taxes in 1993 and the economy boomed. It was the longest peacetime boom in American history.

So saying low taxes on rich people is a good idea is a myth. A lie. A big lie. A dangerous lie.

Think about it. This isn't the opinion of some socialist elitist European professor. It's the evidence based argument of Ronald Reagan's economic adviser, Bruce Bartlett.

Why aren't the pundits and the newspeople on TV listening to him or considering the mass of evidence? Maybe because they are rich and prefer to have their taxes lowered.

Share this information with your Republican or independent brother-in-law. It may persuade him. Or it may cause his head to explode, which would make him ineligible to vote in this election.

Labels: , , , , , , ,


Post a Comment

<< Home