Letter: Tax cuts and the wealthy
In his Sept. 5 column, my friend Tom Cantlon again laments our recent tax cuts. Tom quotes Sister Simone Campbell “The tax cuts went directly to the wealthiest people ...” Well, yes. Tax cuts necessarily go to those paying taxes. If you don’t pay income tax (estimated at 50 percent of us) it is really difficult to cut your taxes. How does one reduce zero?
The answer to that question is the real goal: Use the power of government to seize your earnings and give (redistribute) it to other more deserving folks.
Two main points should be made about high income tax rates: 1) they are counter-productive even in raising revenue, and 2) they hurt not only the rich but also the poor. That money taxed away would otherwise have been put to productive uses like new plants and equipment increasing wealth and income for all.