Reader comment on: Kristof, Taxes and Billionaires
Submitted by John (United States), Jul 7, 2011 22:48
So your lead argument is a tu quoque ad hominem that a public non-profit university doesn't pay corporate income tax? Unfortunately that's the high point of reason in your critique. Others have already answered your rhetorical questions, so I'll push in a different direction. Many studies have shown that higher marginal tax rates for the wealthy force reinvestment of their capital into the economy to take advantage of lower capital gains rates...yet another reason why wealthy should be taxed at a higher rate for their "labor." As for your poorly chosen comparisons, Hong Kong, Singapore and Switzerland all have substantially different economies than the US and economic policies you would deplore. Hint: Hong Kong is part of the communist People's Republic of China and Singapore had the same dictatorial ruler for 30 years, Lee Kwan Yeu, who headed the "socialist" or "social democrat" (you choose the one you like better) PAP party.
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