Thursday, September 20, 2012

Do all politicians favor government redistribution of income? Of course! All taxes redistribute income. Sometimes for national defense or other necessities of a government. Unfortunately, for at least the last 30 years, government tax and other policies have been redistributing income from the middle and lower income groups to the very wealthy as have been show in recent books by Barlett and Steele, Hendrick Smith and Joe Stiglitz. Middle and lower class income has stagnated even though productivity has skyrocketed The only ones who benefitted were the very rich. Small businesses have struggled because multinationals against whom they compete can hide their income offshore and escape taxes. Income from investments is taxed at a much lower rate than income from labor without any real economic justification. The question for voters is who is more likely to favor continued redistribution of income to the very rich. The answer is pretty obvious.

No comments:

Post a Comment