Looks like the GOP is on the right side of wrong. They are certainly correct that some taxes are more equal than others. Some have the potential to increase economic growth, while others have no impact. Some may increase demand which can lead to job creation while others will have no such effect.
“It’s always a net positive to let taxpayers keep more of what they earn,” says Rep. Jeb Hensarling, “but not all tax relief is created equal for the purposes of helping to get the economy moving again.” The Texas lawmaker is on the House GOP leadership team. via Madison,Com
The wrong, of course, is they have their equation ass backwards. Businesses create jobs when consumer demand increases. Companies are not going to create products no one can buy just because they got a kick back from the federal government. What these kick backs will do is increase the capital flight from American businesses to businesses in China and elsewhere.
More important here is Republican no longer pretend to be class war neutral when it comes to taxes. They no longer desire to pretend they are against increasing taxes “as a general rule” but just for those at the top. The Republicans line is the top 1%wealthy are “productive tax payers” while the bottom 50% are “moochers”.
We, in Wisconsin, feel this onslaught all too well with Walker Taxes. Walker Taxes will increase teacher, public employees taxes this coming year up to 40%. Interestingly, the income from these tax increases funded countless tax breaks for bottom of the barrel capitalism. For example, tax credits for pay day businesses that could no longer operate in Illinois, or sweat shops where Walker had to bring in his own air conditioning for the photo op. In Wisconsin, Walker is focused on dividing the working class by union / non union with unions becoming the new state enemy. But have no fear if you are non union they will be coming for you soon.
On a recent episode of The Daily Show, John Stewart too on the Republican’s War on the Poor. Republicans found a 1 or 2% tax increase on the richest 1% as unacceptable , and argued it would only get the treasury a meager 200 billion. The Republicans (Fox News) argue instead we should get the “moocher class” to pay its fair share. This “moocher class”that the GOP is gunning for seems to be the bottom 50% of taxpayers. In order to reach the parity that the GOP is striving for the lower 50% would need to be taxed between 50 and 75% of their income. That as Stewart smuggily points out equates to that eager 200 billion the GOP objects to on the other side of the equation.
So yes, while Dems want to raise taxes only a few % points on top 1%, Republicans want to raise taxes by as much as 75% on the bottom 50%.