Another Misapprehension

Some tax cuts are better than others goes the headline, and that’s true enough. But then the newswriter wanders afield.

…extending the lower individual tax rates that expire after 2025—by far the largest component of any likely tax bill and the one that directly affects the most voters—would put more money in consumers’ pockets without driving a meaningful change in the economy’s long-run trajectory. There is broad bipartisan support for retaining those lower tax levels that Republicans created in 2017, but keeping individual tax rates in place is unlikely to change most people’s decisions about whether and how much to work.

It’s certainly true that not all tax cuts would change, or have any effect, on us taxpayers’ spending behavior. So what? Those favoring higher taxes have yet to articulate a coherent government need for the money, beyond expansive welfare payments and expansive welfare transfers to the States—all without any sort of work requirement.

At bottom, too, it’s our money, not government’s, and we should be the ones who decide how to spend it, or not. Nor do the taxers and government bureaucrats and politicians get to tell us how or whether to spend our money—not directly (that’s part of the intrusiveness of Obamacare that has yet to be corrected), and not indirectly by taxing us and spending our money in government’s name. We’ll allocate our money to our financial needs and desires far more efficiently and with far more specificity than government can ever be capable of.

Full stop.

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