So now we have three professors from the elite universities of Yale & Cornell out there who have come up with a website so the "RICH" can now donate the "Tax-cuts" (?) that they just got with Congress extending the "Bush Tax-cuts" last month....
"three professors at Yale and Cornell universities have created a website that encourages wealthy Americans to give their tax savings to charities and send a political message in the process."
One professor is a political scientist while the other two are law professors and with hope they may find a economics professor to help explain tax cuts and their effects but don't count on it. What tax-cuts? Congress extended the "Bush Tax-cuts" keeping the tax rates the same for all federal taxpayers so actually nobody or any one bracket actually got a Tax-cut. It is amazing that people exposed to the "Spin" coming from the Left actually believe that by NOT RAISING a tax rate it is actually a tax-cut !!!...
"The professors started giveitbackforjobs.org to allow Americans "who have the means" to calculate what their tax cut would be and donate that amount to a charity."
Who is it up to when it comes to determine who is of "means" and what amount they should pay? Who determines what is the "fair share" that many claim the rich need to pay? With tax brackets that go from 5% all the way up to 35% for federal income tax payers who determines the "fair share"? When will it ever be enough and what about the 50%+ of the income earners that pay NO federal income tax at all?
Many people will work all of their lives building up their assets, develop businesses and investments, defer monetary and personal gains and put it right back into the business and investments while paying taxes on these assets all along the way. Only to be TAXED AGAIN at the time of their death before the assets are passed onto their families. What right does the government have to assets that have been taxed already?...
"Extending the tax cuts for the very wealthiest Americans is frankly unconscionable," Yale Law School professor Daniel Markovits said Wednesday. With the website's help, "donors can pledge their money to support the kinds of programs that will help families, create jobs, and set the country moving toward a just prosperity,"
Another perfect example of class warfare. Not sure what a professor from Yale or Cornell makes but are they in the "wealthiest of Americans" as described and who determines that? If they are in fact in this group who is stopping them from donating their "fair share" to the website? If these "Professors" were to go out and find a real economics professor other than one from their elite universities, they might understand how to really "help families, create jobs, and set the country moving toward a just prosperity," They might learn that if you really want to help families, the economy, and lower the un-employment rate, the best way is to actually lower the tax rates again to inspire investment and faith in the economy. This is a proven fact with the data after the Kennedy tax-cuts, the Reagan tax-cuts, and the Bush 43 tax-cuts. Many stated that when Reagan lowered the top tax rate from 70% that the treasury would go broke. In fact the tax revenue coming into the federal treasury doubled within two years. This week Canada lowered their corporate tax rate to half of what the United States corporate tax rate is at 35%. We have the second highest tax rate in the world. Where do you think business is going to go? The economy is "Dynamic", not "Static" as many of the Left and at Universities believe.....
"The professors say other features of the tax package, including a payroll tax cut and an extension of unemployment benefits, are acceptable but the overall package does not go far enough to help the middle class and doesn't expect enough of those who can afford to give the most."
Who determines "Who" and "How" much?.....
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