Center for Freedom and Prosperity Foundation
For Immediate Release
Monday, June 15, 2009
New CF&P Video Makes the Case
Against Class-Warfare Tax Policy
(Washington, D.C. Monday, June 15, 2009) The Center for Freedom and Prosperity Foundation released a mini-documentary today analyzing the controversial issue of tax increases targeted at investors and entrepreneurs. Entitled “The Case Against Class-Warfare Tax Policy;” the educational video provides five reasons to reject the Obama’s Administration’s soak-the-rich approach to tax policy.
The video is particularly timely since the White House has proposed to increase income tax rates, boost the payroll tax burden, raise the capital gains tax, increase the double taxation of dividends, and impose a 45 percent death tax. The mini-documentary explains why these policies will harm the American economy. Andrew F. Quinlan, President of CF&P Foundation, remarked that “President Obama’s class-warfare approach to taxing the American people is irresponsible and dangerous, and history has shown higher tax rates reduce economic vitality.”
The video’s narrator, Daniel Mitchell of the Cato Institute, makes five main points.
- Higher tax rates discourage productive behavior.
- Higher tax rates generate Laffer Curve Responses
- Higher tax rates on the rich don’t help the poor.
- Higher tax rates reduce competitiveness
- Higher tax rates on the rich lead to higher tax rates on everybody.
Simply stated, class-warfare policy may be popular with a portion of the electorate, but it is not good for the American Economy.
- President Obama and other politicians are advocating higher taxes, with a particular emphasis on class-warfare taxes targeting the so-called rich. This Center for Freedom and Prosperity video explains why fiscal policy based on hate and envy is fundamentally misguided.
The following are the links to other CF&P Foundation videos including Tax Competition Primer, Global Flat Tax Revolution, Cutting the U.S. Corporate Income Tax., Promoting Prosperity, Obama’s So-Called Stimulus, a three part series on the Benefits of Tax Havens and a another three-part series on the Laffer Curve.