Friday 3 August 2012
Republicans want to raise taxes on the poor. Why? ☀
There’s no viable conclusion here save that the traditional understanding of taxes in American politics is wrong. Republicans are very committed to cutting taxes on the rich, but they’re willing to let them rise on the poor. And Democrats are more or less the reverse. My hunch is that this speaks to ongoing differences in the economic theories of the two parties, where Democrats believe the path to prosperity runs through increased demand, which requires getting money into the hands of those who will spend it, and Republicans believe it runs through unlocking the potential of “job creators,” which means cutting taxes on the very successful.
