A Call for Lower Taxes & Higher Taxes

ChrisR — Tue, 07 Oct 2008 05:40:00 GMT

Larry Kudlow put together some debate tips for John McCain.

After reading the recommendations, I noticed a significant contradiction.

Mr. Kudlow states:

"...McCain needs to stress that tax hikes of any kind would be a total disaster during this economic emergency, and that letting folks keep more of what they earn is a recovery prescription. He needs to emphasize the need for across-the-board tax cuts for individuals and businesses. Lower marginal tax rates will reward work, investment, and risk-taking. They also will put money in people’s pockets as they keep more of what they earn."

Sounds pretty good....People would have to forget about the $700 billion bailout that just passed....but taking that statement at face value, so far so good.

But then the contradiction:

"McCain also should state that the Federal Reserve needs to keep expanding the money supply."

Ron Paul has repeatedly pointed out that inflation is a tax! In fact, Fed Chairman Bernanke even agreed with Ron Paul in this video, saying "Congressman, I couldn't agree with you more that inflation is a tax."

So Mr. Kudlow is calling for lower taxes *and* higher taxes at the same time.

Lower Oil is Not a "Tax Cut"

ChrisR — Tue, 12 Aug 2008 13:47:00 GMT

The fact that the price of oil has dropped considerably does not constitute any kind of "tax cut."

When the price of oil increases once again, are we supposed to call it a tax increase? How did the price of oil get singled out for such a distinction? If the prices of wheat, lumber, or cotton decrease, should we be calling them "tax cuts" as well?

Since when did market prices become bundled with taxation?

The language seems very sloppy to me, especially since every gallon of gas that we buy contains a real tax attached to it. I recently read that the gas tax in California is 62 cents out of every gallon. Isn't it ridiculous to call the lower price of oil a "tax cut," while actual taxes remain untouched?

Let's say the 62 cent tax is reduced by 10, 50, or even 100%.....Then you would have a real tax cut.

Love of Liberty : taxation

A Call for Lower Taxes & Higher Taxes

Lower Oil is Not a "Tax Cut"