Fwd: The Rich Pay 106 Percent of Income Taxes-and Should Pay None

[Travis]

*http://tinyurl.com/krkt37a <http://tinyurl.com/krkt37a>*



Friday, December 13, 2013

*The Rich Pay 106 Percent of Income Taxes—and Should Pay None*

Posted by Ari 
Armstrong<http://www.theobjectivestandard.com/blog/index.php/author/aarmstrong/>at
1:26 pm ET

[image:
http://www.theobjectivestandard.com/blog/_files/bigstock-Irs-Money-2535827-300x200.jpg]The
so-called “progressive” income tax is designed to tax “the rich” more—and
that’s what it’s doing. CNBC reports <http://www.cnbc.com/id/101264757>:

Buried inside a Congressional Budget Office [CBO] report this week was this
nugget: when it comes to individual income taxes, the top 40 percent of
wage earners in America pay 106 percent of the taxes. The bottom 40 percent
. . . pay negative 9 percent.

Of course, a “negative tax” is just an odd way of naming a subsidy. CNBC
notes that the so-called “negative tax” consists partly of transfers “of
money back to the taxpayer in the form of social security and food stamps.”

Egalitarians claim the government should tax the wealthy more (and more and
more) in order to subsidize the less-wealthy. But the key moral issue is
not who the government should force to subsidize whom; rather, it is that
government ought not force anyone to subsidize anyone.

Each individual has the right to live by his own judgment, to work as he
deems best, to trade freely with others, and to keep the product of his
effort—whether that product is enormous or tiny. The government has no
moral right to confiscate the wealth of the rich to subsidize others—as it
has no moral right to confiscate anyone’s wealth.




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