Tax cuts make sense — even for the wealthy

September 14, 2010

In your recent editorial ("Compromise possible on tax cuts", Sept. 13), you claim that "Democrats want to preserve the cuts for the middle class but oppose extending the tax break to the wealthy, and rightly so. What was a mistake in 2001 would be just as great a mistake today."

You fail to explain is why this is "rightly so" and why this would be a "mistake." Is it because you believe the oft-repeated fallacy that tax cuts have to be "funded," or because you actually believe your own rhetoric about the GOP only caring about tax breaks for the rich?

If it is the first case, then I must remind you that tax cuts don't need to be funded — spending needs to be funded. Remember that it is the producers who have created the wealth that the politicians are so eager to spend. It is also clear that the GOP is in favor of extending all of the tax cuts, not just those for the wealthy, and rightly so. It is the wealthy who create jobs and invest money (contrary to the popular notion that they hoard wealth).

Tax cuts across the board make sense because the government doesn't have any right to spend individuals' earnings on any public project they choose in the first place.

Nickolaus Mueller

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