Redistribution By Taxation

Veronique de Rugy takes the wood to claims that the rich — whatever that means — are not paying their fair share of income taxes, as President Obama incessantly tells us.  She does it with a simple chart:

Green is share of total income.  Blues are share of total income taxes.  More information at the link.

President Obama and the Democrats in Congress view tax policy as a way to engage in (i) redistribution, not any concept of fairness that comports with the definition of the word, and (ii) social and economic engineering to favor certain industries, technologies, and groups (i.e. special interests). 

The only way to make taxes fair is to ensure that all segments of society feel a proportionate amount of pain to some degree, and to eliminate provisions that favor special interests.  This would have the added benefit of reducing market distortions that impede economic prosperity by favoring certain industries and groups instead of letting the market — meaning consumers like you and me — determine which will prosper.

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Published in: on April 21, 2011 at 10:49 am  Leave a Comment  

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