Rich Lowry writes a great rebuttal today.
I’m sure you’ve read the Elizabeth Warren part by now.
“I hear all this, you know, ‘Well, this is class warfare,’” she says of Democratic tax policy. “No. There is nobody in this country who got rich on his own. Nobody.”
She goes on to cite the proverbial factory owner who relies on public services like roads, schools and cops. (Warren could just as easily have mentioned as contributors to the factory owner’s success freedom and a government strictly bound by the rule of law, but they must not have been top of mind.)
Some have been looking for the quick ride in the elevator rebuttal.
How’s this?
She argued that these goods are things “the rest of us paid for,” the “rest of us did.” When it comes to federal income taxes — the focus of the current debate — this isn’t right. About half the country doesn’t pay them, and the top 10 percent pays about 70 percent. Insofar as those taxes fund Warren’s public goods, her rich industrialist disproportionately contributes already.
Or here’s a quicker one if you’re only going up a floor.
Focusing on infrastructure as the crucial support of entrepreneurial activity is like crediting the guy who built young Bill Gates’ garage with the start of Microsoft.
Maybe for 4 floors [bold is mine]:
Besides, why is anyone musing about raising the taxes of factory owners in a stagnant economy? …….According to the Census, one in five American children is living in poverty, and the average earnings of the typical man working full time are beneath 1978 levels. Anyone worried about our social contract should care first of all about creating more economic growth, and more factory owners.
Elizabeth Warren, and President Obama with her, looks at business success largely as an occasion for higher taxation. Whatever this is, it is not, as the president would have it, simply an exercise in math.
0 Responses to “Obligatory Warren Post”