Ethics

War on the Rich!

By Ed Brayton

One of the most ridiculous memes being pushed by the right at the moment is the notion that Obama is declaring war on the rich and that this will destroy economic growth. Larry Kudlow declares, "Obama is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds."

That is the meaning of his anti-growth tax-hike proposals, which make absolutely no sense at all -- either for this recession or from the standpoint of expanding our economy's long-run potential to grow.

Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama's left-wing social vision, and a repudiation of his economic-recovery statements.

Full post as published by Dispatches from the Culture Wars on March 10, 2009 (boomark / email).