By Jerry Bowyer
TCS Daily
Critics on the left charge that lowering the tax rate on capital helps the rich, not the poor. This reveals the fundamental presupposition error of their thinking—that the rich and poor have an inherent economic conflict of interest. They do not. The tendency in modern dynamic economies is for the rich and poor both to get richer, but at different rates. Growth-oriented policies are beneficial to both. They have an inherent harmony of interests. This is demonstrated by current economic data. Lowering the cost of taxes on capital lowers the risk of capital investment. The tax cuts of 2003 triggered a very strong surge in capital spending. This means more buildings, more computers, and more machines, which means more people to occupy, sit at and operate them. That's why the household survey shows a gain of 8 million jobs in the past 3 years. (more)
