Conservative Weekly Standard columnist Bill Kirstol said it won't kill the country to raise taxes on millionaires during an appearance on "Fox News Sunday." Kristol said that after a bad night on Election Day, Republicans should reassess their positions and be open to new ideas.
"Don't scream and yell when one person says, 'you know what, it won't kill the country if we raise taxes a little bit on millionaires.' It really won't, I don't think," Kristol said.
Kristol continued, saying he doesn't understand why Republicans don't just take President Obama's offer to go ahead and extend the Bush tax cuts for everyone making under $250,000 per year while a larger deal is reached. "I don't really understand why Republicans don't take Obama's offer to freeze taxes for everyone below $250,000, make it $500,000, make it $1 million," Kristol said.Another clueless one who doesn't understand the importance of the rich in providing capital that results in increased productivity. Taxes shouldn't be raised on anyone, but it certainly isn't less harmless to raise taxes on the rich.
BTW: Bettina Bien Greaves reports that at his famous seminar in NYC, Ludwig von Mises, arguing against taxes, once even said that taxes should be on those who made losses, not profits, since those who make profits are more skilled at improving the standard of living of an economy and it is important to incentivise them and keep money in their hands.