Thursday, October 14, 2010

Keep What You Earn

In all this debate about whether the extend the Bush tax cuts past this year, I am hearing something over and over again that makes me cringe.  It goes something like this.  “How can it be fair that a person that makes a million dollars would make an extra $100,000 if we keep the tax cuts.  How is that fair?”  Maybe because the person that makes a million dollars earned that million dollars and it is his money to keep.  This goes to the idea that it is the governments job to somehow reallocate income.  It is also very ignorant of the fact that the man who keeps that money is a better steward of those funds in terms of economic impact than our government.  How many entitlement programs are there that are well run?  They are all fraught with bureaucracy.  Social Security, Medicare, Medicaid, are all disasters.    

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