Saturday, April 21, 2012

Why high taxes will never soak rich

Anchorage Daily Planet
By DANIEL J. MITCHELL

Whether it’s through the Buffett Rule, higher income-tax rates or double taxation of dividends and capital gains, President Obama often demands that “rich” taxpayers and big corporations send more money to Washington.

But as Americans pay their taxes by today’s deadline, we might note that trying to get more money from upper-income taxpayers is like playing whack-a-mole. So long as tax rates are high, rich people will figure out ways to protect their income.

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