Larry Kudlow
You would think that with one of the weakest economic recoveries on record, President Obama would be desperately searching for ways to promote economic growth. It is, after all, an election year. Most pundit and pollsters agree that it’s the economy stupid.
But instead, Obama used his State of the Union speech to rail on about fairness, inequality, and redistribution. The Obama strategy is simple: Tax the rich because they don’t pay enough.
The problem is, they do pay enough. According to the Tax Foundation, Americans making $1 million or more pay a 25 percent average tax rate. People in the $50,000 to $100,000 income category -- call it the middle class -- pay 7 to 8 percent.
Read more: http://finance.townhall.com/columnists/larrykudlow/2012/01/28/obamas_lowball_vision
You would think that with one of the weakest economic recoveries on record, President Obama would be desperately searching for ways to promote economic growth. It is, after all, an election year. Most pundit and pollsters agree that it’s the economy stupid.
But instead, Obama used his State of the Union speech to rail on about fairness, inequality, and redistribution. The Obama strategy is simple: Tax the rich because they don’t pay enough.
The problem is, they do pay enough. According to the Tax Foundation, Americans making $1 million or more pay a 25 percent average tax rate. People in the $50,000 to $100,000 income category -- call it the middle class -- pay 7 to 8 percent.
Read more: http://finance.townhall.com/columnists/larrykudlow/2012/01/28/obamas_lowball_vision
No comments:
Post a Comment