Center for Freedom and Prosperity Foundation
For Immediate Release
Tuesday, October 30, 2012
New CF&P “Economics 101″ Video Blasts Obama’s Class Warfare Tax Policy
(Washington, D.C., Tuesday, October 30, 2012) The Center for Freedom and Prosperity Foundation (CF&P) released today its latest “Economics 101” video, which analyzes the President’s divisive approach to tax policy. Entitled, “Obamanomics: Class Warfare vs Pro-Growth Tax Policy,” the video explains what’s wrong with the President’s approach and offers a pro-growth alternative.
Narrated by Mattie Duppler of Americans for Tax Reform, the mini-documentary discusses the President’s efforts to increase double taxation on capital gains and dividends, as well as his proposals to boost the death tax and raise top tax rates on investors, entrepreneurs, and small businesses. In addition to explaining how these policies would hamper growth, the video bursts the Beltway myth that the budget can be balanced on the backs of a few rich taxpayers, noting that even a 100% tax on those with $1 million plus income would only fund the government for 3 months – and that confiscatory approach would only work one time.
The common theme of the President’s policies and proposals, as demonstrated by the video, is a cynical use of the tax code to divide Americans for political gain. A proper approach to taxation, Ms. Duppler explains, recognizes that taxes should exist only for raising revenue to fund the legitimate and limited functions of government. In other words, the tax code should be simple, efficient and fair – not complicated and punitive.
“President Obama’s animosity toward economic producers is clouding his judgment,” said CF&P Foundation President Andrew Quinlan. He concluded, “In light of the evidence laid out in the video, including the fact that the US already has a highly progressive tax system by international standards, how else can we explain the stubborn ferocity with which he has pursued class warfare tax hikes?”
“Taxes at best should be viewed as a necessary evil,” said Dan Mitchell of the Cato Institute. He added that, “Unfortunately, politicians such as President Obama see the tax code as a political football that can be used to buy votes from one group of voters by pillaging an unpopular minority.”
Even though he promised to bring Americans together, President Obama has used class-warfare tax policy to persecute and demonize successful entrepreneurs and investors. This mini-documentary from the Center for Freedom and Prosperity Foundation explains why the tax code shouldn’t be used for anything other than fairly and neutrally collecting a minimum amount of revenue to fund the legitimate functions of the federal government.
This new video is part of CF&P’s Economics 101 video series, which is designed to explain free market concepts, with particular emphasis on reaching students and young people. This is the twenty-second video in the series, and the fourth recent video to look at the record of President Obama and his policies.
The Obamanomics series:
- Obamanomics: Class Warfare vs Pro-Growth Tax Policy
- The Auto Bailout Was a Failure, Hurting Taxpayers and the Economy
- Obamanomics: The Dismal Record
- Obamanomics: A Legacy of Wasteful Spending
The other Econ 101 videos: Third-Party Payer is the Biggest Economic Problem With America’s Health Care System; The Dangers of Government Dependency; The New Deal Was A Failure: Hoover and FDR Prolonged the Great Depression with Big Government; The European Fiscal Crisis and Lessons for America, Free Markets, Not Redistribution, Is Best Way to Reduce Poverty, Seven Reasons Why Tax Increases Are the Wrong Approach; Tax Competition: A Powerful Force to Restrain Big Government; Four Reasons Why Big Government Is Bad Government; Keynesian Economics Is Wrong: Economic Growth Causes Consumer Spending, Not the Other Way Around; Indexing the Capital Gains Tax to Protect Taxpayers from Inflation; Repealing Obamacare and Restoring a Free Market in Healthcare; The Job-Killing Impact of Minimum Wage Laws; Deficits, Debts and Unfunded Liabilities; Cost of the Internal Revenue Code; Lessons Learned From Sweden; Government Monopolies; Moral Hazard; and Don’t Copy Europe’s Mistakes.
CF&P Foundation has also released more than four-dozen mini-documentaries since 2007. These videos include Tax Competition Primer, VAT-Hidden Tax, Global Flat Tax Revolution, Cutting the U.S. Corporate Income Tax, Promoting Prosperity, Obama’s So-Called Stimulus, Obama’s Deferral Proposal, Case Against Class-Warfare Tax Policy, President Obama’s Dishonest Demagoguery on Tax Havens, Six Reasons Why the Capital Gains Tax Should Be Abolished, a three part series on the Benefits of Tax Havens and another three-part series on the Laffer Curve.