Friday, February 12, 2010

Cutting Capital Gains Taxes Raises Revenues and The Left's Laffer of a Counter-Argument

[The American Spectator]

The Plague of Left-Wing Propaganda

[...] On a recent broadcast of the Larry Kudlow Show on CNBC, Art Laffer politely sat through an infantile lecture from Michael Linden, Associate Director for Tax and Budget Policy for the Center, claiming that Laffer had been "long discredited" in his argument that cuts in capital gains tax rates produce higher revenues.

But the truth is that over the past 40 years, every time capital gains tax rates have been cut, revenues have increased, and every time capital gains tax rates have been increased, revenues have declined. [More]

Since the government can print as much money as it likes, and because it is clearly demonstrated that taxes destroy wealth creation, one can only assume that the government taxes us for the hell of it.  By putting the invisible yoke of tax withholding and confiscation around our necks, that is how they incrementally prep us for serfdom.  The effect of taxation, regulation, and criminalization of every sphere of life is psychological demoralization of the individual and the steady breaking of the American people's will to resist.  But the gig is coming to an end, and if the statists think that they've seen the worst of the fury of the American people, just wait until this false recovery fades away and Americans and their children are stuck with the bill for rampant political corruption, wasteful spending, and more Keynesian pipe dreams.

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