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Reducing taxes actually results in growth
The Gazette Opinion Staff
Jul. 24, 2011 12:21 pm
What's wrong with the idea that “the rich” need to pay their fair share? First of all, there's the inference that there are “shares“ other than just “fair” ones. What about the 50 percent of Americans who pay no income tax? Is that their “fair share” or might that be called an “unfair share“? What is a “fair” share anyway?
According to the IRS, the top 5 percent of all taxpayers earned 35 percent of all income in 2010 and paid 59 percent of all income taxes. Some might say these folks are paying more than their fair share. Is that fair?
The president, with the support of his adoring media, likes to use the word “revenue” when he talks taxes and “investment” when he means spending. He'll say we need to cut spending and invest the increased revenue we can get when the rich start paying their fair share.
As a result, the public is led to believe that Republicans are opposed to fairness. Listen more closely: It's increased
tax rates Republicans oppose - not increased revenue. The debate is over how that can best be done.
History has shown time and time again that reducing tax rates will result in economic growth and hence, increased revenue.
Jay Kacena
Marion
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