Friday, May 15, 2009

Progressive Taxation Was Never About Fairness

By Dan Denning • May 13th, 2009 •

This is how we felt after reading over the details for last night's Federal budget.

In today's Daily Reckoning we take a merciless meat axe to the idea that progressive taxation has anything to do with fairness. Quite the contrary. There could be nothing more unfair than stealing from one man and giving to another based on his "ability to pay." But first, what's this about a budget deficit?

The fact that the budget is front page news (with extra sections of the newspapers) is a testament to how brainwashed and addicted to government the modern world is. Apparently we're all wards of the State now.

Should we really take these clowns this seriously? Sadly, we must, because they are not only spending their way into perpetual deficits, they are borrowing (stealing) from the future to do so. Aside from being ham-fisted economic ineptitude, it is also cowardly, immoral, and intellectually offensive. It also affects markets and your investments. More on that in a moment. (more)

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