Warren Buffett has released his annual encyclical on the need to raise taxes for the wealthy, from theNew York Times, the de facto cathedral of the Church of Enlightened Envy. As usual the arguments make no sense, and conservatives have issued the usual challenges: Capital gains taxes are a second layer of taxation, so it’s irrational to compare that only to a middle class person’s total tax rate; capital gains tax rates are lower because capital is at risk from speculative losses, unlike wage and salary income; capital gains rates are lower because most capital gains are long term,...
Crony capitalism is too kind. Call it what it is now - fascism.
- Reading 2.0: There’s an app for that Jazz Shaw 1 hour ago
- China draws its own “red line” …on North Korea Erika Johnsen 2 hours ago
- IRS to give up, release all Lerner e-mails, documents Jazz Shaw 4 hours ago
- Ukraine: Another 3 AM wake-up call going unheeded Ed Morrissey 5 hours ago
- Welfare reform is officially on life support in NYC Jazz Shaw 7 hours ago
- Why won’t the White House explain how off-budget ObamaCare money got spent? Ed Morrissey 8 hours ago