Wednesday, February 1, 2012

Great article

http://www.cato.org/pub_display.php?pub_id=14061

Great article by Richard Rahn of the Cato institute about Pres. Obama's distorted sense of fairness. I especially liked his spot on dentist example:

"The American Constitution is all about protecting individual (not class) liberties and rights. If you think the “rich should pay more,” then you are thinking in class terms. Assume for the moment there are two individuals, each 45 years old with the same IQ, who went to the same college and dental school and are equally skilled dentists in private practice. However, one is married with four children in expensive colleges, and thus chooses to work 60 hours per week. The other dentist has no children and chooses to work just 30 hours per week and thus makes half as much. The president thinks it is “fair” to tax the industrious dentist at a higher tax rate."

Individuals are what matter, not groups or classes. This example highlights what is wrong with the way Obama and other high tax advocates think.

Also, I would love to hear what tax rate the "tax the rich" advocates think is fair. They keep shouting "fair share" but rarely do any of them take the necessary step of quantifying it, and any attempts to quantify it that I have seen have no analysis to back up the resulting number. What a bunch of populist nonsense.

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