It saddens me that Rob Leach (“Tax cuts and Moore,” Dec. 7) and others have fallen for the notion that reducing taxes on the wealthiest is going to magically increase general prosperity for all and that will more than make up for lost government revenue. Every reputable economist disagrees.
The rich benefit from stable, well-financed governments much more than the poor, thus the oligarchs of Russia and other wildly unregulated economies park their money in the U.S. and similar political entities. Our system of strict regulation of businesses and markets guarantees stability and also protects the assets of the rich from arbitrary confiscation. Of what benefit is accumulation of wealth in unstable governments that, as Napoleon said, might allow “peasants to kill the lords and steal their gold”?
The ultra-rich, whose ability to live sumptuously is barely impacted by paying more taxes for a stable government, resist that idea mightily, and their “donations” to congressional delegates like Cathy McMorris Rodgers are bribes to ensure lower taxes for themselves. Republican leaders have already announced that the projected 1-2 trillion-dollar government shortfall will give them ammunition to curtail Social Security and Medicare. This proposed tax plan is warfare of the rich waged upon the poor.