Lets make fun of Obama while he is still relevant.

[Warren Dew]

(11-29-2016, 03:53 PM)David Horn Wrote:

Warren Wrote:Truth.  But I don't advocate any spending increase at all.  Rather, I advocate increasing the deficit through massive income tax reductions.

Why?  We have objectively among the smallest tax burdens in modern times, and much less than other advanced economies.

Not at all true.  U.S. tax burdens are comparable to western European tax burdens, and tend to be much more progressive.  Marginal rates for even a moderately affluent couple in some states can exceed 60%.  Perhaps you are forgetting that in the U.S., we have state taxes as well as federal taxes.

Quote:More to the point, Thomas Picketty showed how foolish under taxation is if r > g, with r being the rate of return on investments and talent exploitation and g is the growth of the overall economy.  The rich merely get richer, and the net worth of nation steadily flows into fewer and fewer hands.  Oligarchy is why we're in the mess we're in.

From the standpoint of Picketty's theories, taxation of income is misdirected as it does not prevent concentration of wealth.  You might make some sense if you proposed eliminating the income tax and replacing it with a wealth tax.  Somehow the left never actually proposes things like that, though,  as they're in bed with the financial billionaires of the world.