“Tax cuts for the rich” will be the battle cry from the left as they obstruct progress on tax reform. Progressives employ hyperbolic, ideological falsehoods creating envy and division amongst the most gullible citizens.
During the Reagan years, tax cuts brought more revenue into the treasury than under any previous administration (Economic Report of the President). Revenues also increased with similar efforts under Bush 41, Coolidge and JFK (Economic Report of the President).
The top 20 percent of income earners pay over 90 percent of all income taxes (Congressional Budget Office), yet under Reagan the top 20 percent paid 64 percent and under Clinton 81 percent (White House Office of Management and Budget). When Bush 43 cut taxes, 10 million of the poorest Americans had their taxes reduced to zero. The bottom 40 percent of the taxpayers saw their taxes cut in half.
Since 2000, funding for CHIP has increased 480 percent, food stamps 246 percent, energy assistance 165 percent, child care assistance 89 percent and Medicaid over 109 percent (CBO). Both salaries and tuition in the UNH system doubled from 2001 to 2011.
Any suggestion of slowing down social spending and education expanded salaries is misrepresented by progressives as a “cut,” accusing proponents of “declaring war on the poor.” Today 44 percent of households pay no income taxes; 56 percent of total households carry the load.
The idea that “tax cuts have to be paid for” is more asinine hyperbole. It assumes that we can never cut social spending, not ever. I doubt that many progressives run their households on that faulty, illogical premise.
BILL BUNKER
Barnstead