from Too Much: A Commentary on Excess and Inequality:
The Never-Ending Quest for Tax Red Herrings December 9, 2012
The political friends of America’s rich aren’t aiming to convince us that higher taxes on the nation’s highest incomes make no sense. They’re just hoping to keep us distracted.
By Sam Pizzigati
Why do so many lawmakers in Congress oppose raising taxes on America’s wealthy, even just a little? The answer: We’ll never really know for sure.
Lawmakers might deep down oppose tax hikes on the wealthy, for instance, because their wealthy campaign contributors don’t want to pay any more in taxes. Or they might oppose bigger tax bills for millionaires simply because they don’t want to pay Uncle Sam a cent more of their own million-dollar incomes.
Lawmakers under the influence of either of these motives would, of course, never openly admit to them. How could they — and politically survive? Simple political reality demands that rich people-friendly lawmakers must solemnly proffer much more noble rationales for zealously shielding rich people’s income from taxes.
Raising taxes on high incomes, we’ve been assured since long before the “fiscal cliff” debate, will discourage small business “job creators.” Higher taxes on the rich, we’re told, always backfire and never generate the revenue anticipated. ........................(more)