Monday, April 2, 2012

Is a Tax Cut Wealth Redistribution?

Is a Tax Cut Wealth Redistribution?:: Senator Elliott Werk recently claimed that a tax cut passed by the Idaho State Legislature was a form"of tax redistribution.” Traditionally redistribution of the wealth has been defined by a three step process.
1. Wealth is produced in the private sector
2. Government takes some of the wealth in the form of taxes
3. Government gives some of this wealth to someone whom did not earn it
Senator Werk (Democrat, Boise) has redefined redistribution of the wealth. Now, to leave wealth in the hands of those that produced it is redistribution of the wealth. This is possible if one thinks that all wealth belongs to government and government has the power to distribute in the wisest way.

The tax cut was $37.7 million. It reduced the corporate income tax rate from 7.8 percent to 7.4 percent and the personal income tax rate to 7.4 percent.
https://chumly.com/n/1225bd3

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