Atlantis Alumni

Sunday, May 29, 2011

High Taxes Do Not "Kill" The Economy

Photo: The Radisson Blu Hotel in Copenhagen

High taxes are not economy killers. Just look at the Western European countries where taxation levels are all much higher than in the US. What is killing our economy and our country is the obscene disparity in wealth between the uber-wealthy and the rest of the population. A few smart wealthy people realize this and have spoken out about it (e.g., David Stockman, Warren Buffett.) There is no way we can survive as a leading world power if we engage in multiple wars, and maintain unnecessary military spending with bases all over the world (why do we need them?) and at the same time cut taxes on the wealthy. We jeopardize our future with cuts in education, and we are attacking the most vulnerable in our society by gutting social safety net programs. We're behaving like an end of empire country...eating our own while the most wealthy get wealthier. It's nothing less than shameful.

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