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Politicians Should Not Scapegoat Upper Incomes

Recorded on July 19, 2012

From The Heritage Foundation, I'm Ernest Istook.

In bad economic times, nobody's taxes should be raised.

Yet some want higher taxes on households making over $250-thousand a year. That's not the same as being rich, especially if government takes away your money before you can invest it.

Taxes should not be based on jealousy of those who earn the most. And they should not be scapegoated. It's convenient for politicians to blame the “1%” for our economy when the real fault lies with government—in other words, with the politicians.

The top 10% of income earners already pay 70% of the federal income tax. And even if all their income was confiscated, it wouldn't come close to getting rid of the federal deficit.

President John F. Kennedy boosted our economy by insisting that tax relief must be across the board—President Obama could learn a lot from JFK.

From The Heritage Foundation, I'm Ernest Istook.