The "Tax The Rich" Con, Parts 1-3 ...

Thanks very much to Dr. Newmark for the heads-up on these columns.

The 'Tax The Rich' Con, Part I - Forbes.com: "This is a power grab that invariably hits those who aren't rich. The Democratic Party's passionate opposition to President Barack Obama's agreement to extend all of the current personal income tax rates is based on one of the great political con jobs of the last 100 years--that raising the top personal income tax rates is a way to 'tax the rich.' The 'tax the rich' mantra is seductive. It is based on the philosophy that taking money from those with higher incomes and using it to fund government programs will produce a more just society. It sounds like an easy way to reduce the Federal government's growing debt."

The Tax The Rich Con Part II - Forbes.com: "The middle class will foot the bill for higher taxes on the rich. One of the key talking points for raising tax rates on those with high incomes is that such a tax increase will 'force millionaires and billionaires' to pay more of the cost of government. This part of the 'tax the rich' mantra sounds good. It promises the majority of voters something--reducing the federal budget deficit--at no cost to them. But this pitch too is a con."

The 'Tax The Rich' Con, Part III - Forbes.com: "It's a classic bait-and-switch that eventually leads to higher taxes for everyone. The 'Tax the Rich' mantra invoked by liberals and progressives is a con job. It misrepresents the target of the tax, deflects attention away from the true consequences of the higher tax rates that they advocate, and often is a precursor to higher tax rates on low- and middle-income families."

Related links:
When Will Taxes Be Sufficiently Progressive?
Ron Paul on Distorting the Tax Policy Debate ...
Where Did Oregon's Millionaires Go?
More on Taxes, And Their Morality ...
Tax Debate: Facts Are Not Optional