Paul Krugman Is Wrong About Capital Gains Taxes

Paul Krugman is a liberal. He’s also untruthful on the topic of capital gain taxes. Like President Barack Obama and most liberal Democratic politicians, Krugman’s contortions about capital gains taxes are so pathetic you’d think he owned stock in Pinnochio Inc.

The question is why do Obama and his lackeys like Krugman so enthusiastically spread such misinformation about capital gains taxes? Alas, the answer is simple. With a totally failed presidential record the Democrat game plan for re-election is to incite envy, jealousy, and class warfare.

Take Krugman’s most recent work of fiction: his column from Sunday’s New York Times. He attacks capital gains tax rates as just for the “very rich” – “unwise, unjust and expensive favors showered on the upper class.”

Really? Because last I checked those low capital gains rates are being showered on everyone. Last I checked, they apply to every home sold in America. So they benefit every homeowner. Last I checked, they apply to every stock and bond sold in America. So they benefit every investor and 401 saver. Last I checked, they apply to every small business sold in America. So they benefit every small business owner.

If Krugman gets his way every small business owner, every owner of stock, every worker saving for retirement, and every retiree gets to pay double on their capital gains, stock dividends and bank interest. This is how crazy…insane…and just plain nutty liberals are. It’s been said liberalism is a disease. I couldn’t agree more — these people should be locked away in psychiatric hospitals with rubber walls, so they stop hurting themselves to satisfy their strange obsession with “the rich.”

If taxes are low and they benefit billionaires like Warren Buffett, Mitt Romney and Donald Trump, who cares as long as those same rates benefit middle class Americans? If low capital gains tax rates allow Mitt Romney to keep an extra $8,000,000…but they also allow a bodega owner in the Bronx to keep an extra $8,000…and after thirty years of sacrifice and hard work allow a small business owner or farmer to keep an extra $80,000 when he retires and sells his business, is that bad?

With this kind of nutty logic, if the New York Times gives Mr. Krugman a $5000 raise and another columnist a $10,000 raise, would Krugman demand that both raises be cancelled? Would that decision improve Mr. Krugman’s quality of life? Would that decision allow Mr. Krugman to retire sooner? Of course not, but this is the type of insane logic of liberals.

The lie is that the goal of these liberals is to take an extra 25% or 50% from Mitt Romney (in total a relatively small amount). The truth is that they want to steal an extra 25% to 50% from you — every small business owner, investor, saver, and retiree in America (in total a very large amount).

As a common sense, Tea Party fiscal conservative, I want to keep more of my own money. If that means a few super rich guys get to keep more of theirs, why would I care? I’ll take an extra $5,000…or an extra $1,500…or an extra $500. I’ll take anything I can get. After all, it’s my money in the first place.

Like millions of American families, my personal Root family story is proof that capital gains are what allow lower and middle class Americans to achieve the American Dream. Those same lower capital gains rates that benefit the Romneys and Buffetts allowed my family to rise from poverty in this great country.

Page 2: http://www.forbes.com/sites/wayneroo...gains-taxes/2/