just as your criticism of the "soak the rich" populism is correct, criticism of a few of the tax increases is incorrect.
increasing taxes on cigarettes? go for it! the habit of smoking adds to our country's health costs. in addition an increased cost of tobacco might deter some from taking up the habit.
increased costs to the oil cos for their gulf concessions? have you looked at the profit margins of the oil cos lately? do you know just how little they pay for the right to pull oil out of the public lands? go for it!
the tax on private equity is a bit more difficult, the investors are receiving favorable treatment of their profits relative to the corporate ownership structure, while they aren't taking more risk nor providing more benefits (in fact, if you look at the track record they are producing more layoffs). their returns are much higher and the opportunity to invest is limited to a small group of people rather than open to the public. tough issue...
so some tax increases would be acceptable and some would not.
|