Arthur C. Brooks Quotes
There is nothing inherently fair about equalizing incomes. If the government penalizes you for working harder than somebody else, that is unfair. If you save your money but retire with the same pension as a free-spending neighbor, that is also unfair.
Brooks, Arthur C. The Battle: How the Fight between Free Enterprise and Big Government Will Shape America's Future. Basic Books, 2010.
An income tax had been instituted during the Civil War but had lapsed. Existing taxes were all excise or head taxes—very regressive. Later there was a political movement to bring back the income tax with the intention of taxing all income equally. There was a titanic struggle which culminated in a Constitutional Amendment allowing the income tax. None of the original politicians, for or against, the income tax could never imagine an income tax that would charge lower rates for investment income. That was the entire purpose of the income tax at the beginning—to tax investment (unearned) income. The “capital gains tax” was the creative way of the rich getting back some of what they thought the lost when the income tax was instituted.
This became known as the Buffet Principle—that the very rich should not pay a lower tax rate than the workers who make far less money than they do. President Barack Obama used this principle by name in calling for the 2011 Jobs Act which would eliminate some of the loopholes and exemptions by which the rich could avoid some or much or their tax obligation.
Arthur C. Brooks is an American social scientist, musician, and contributing opinion writer for The Washington Post. He was the president of the American Enterprise Institute, a conservative think tank, for a decade. As of July 2019, he joined the faculty of the Harvard Kennedy School and Harvard Business School. Brooks has researched the junctions between culture, economics, and politics. He is the author of 11 books, including two New York Times best sellers: The Road to Freedom: How to Win the Fight for Free Enterprise (2012) and The Conservative Heart: How to Build a Fairer, Happier, and More Prosperous America (Broadside Books, 2015). Politically, he is a center-right independent and a libertarian.
