From Thomas Sowell's latest column:
...All sorts of people can have all sorts of beliefs about what tax rates are best from various points of view. But how can people work themselves into a lather over the fact that some taxpayers are able to keep more of the money they earned, instead of turning it over to politicians to dispense in ways calculated to get themselves re-elected?
The angry left has no time to spend even considering the argument that what they call "tax cuts for the rich" are in fact tax cuts for the economy.
Nor is the idea new that tax cuts can sometimes spur economic growth, resulting in more jobs for workers and higher earnings for business, leading to more tax revenue for the government.
A highly regarded economist once observed that "taxation may be so high as to defeat its object," so that sometimes "a reduction of taxation will run a better chance, than an increase, of balancing the Budget."
Who said that? Milton Friedman? Arthur Laffer? No. It was said in 1933 by John Maynard Keynes, a liberal icon....
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