Adam Smith Endorses Obama Tax Plan

“It is not unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.”

– Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776

Related:

“Let the Bush Tax Cuts for the Wealthy Expire Already,” Senator Bernie Sanders, Truthdig

“How to raise taxes on the rich,” Jeanne Sahadi, CNN Money

“Tax hike for wealthy won’t kill growth, CBO says,” Reuters via NBC News

“The Great Capitalist Heist: How Paris Hilton’s Dogs Ended Up Better Off Than You,” Gerald Friedman, Naked Capitalism [caution: numbers n’ stuff]

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Economist Ben Stein: Taxes on the Rich Are Too Low

Conservative economist Ben Stein told panelists on “Fox & Friends” that the government doesn’t just have a spending problem, it also has a “too low taxes problem.”

“I hate to say this on Fox – I hope I’ll be allowed to leave here alive – but I don’t think there is any way we can cut spending enough to make a meaningful difference, we’re going to have to raise taxes on very, very rich people. People with incomes of, say, $2, $3, $4 million a year and up. And then slowly, slowly, slowly move it down. $250,000 a year, that’s not a rich person.”

“With all due respect to Fox, who I love like brothers and sisters, taxes are too low,” he added.

Adam Smith Endorses Obama Tax Plan

“Let me me ask you, what’s the better way to make our economy stronger? Do we give … tax breaks to every millionaire and billionaire in the country? Or should we make investments in education and research and health care and our veterans?”

— Barack Obama, April 12, 2012
“Obama: Tax the rich to help grow the economy,” David Jackson, USA Today