by Donna Martinez
Former Senior Writer and Editor, John Locke Foundation
As progressives move even further to the Left and endorse policies that clearly make them welfare statists, a new poll shows that Americans are not convinced about the call to soak the wealthy with sky-high marginal tax rates. From Rasmussen:
Most voters agree that government spending and taxes are too high, but they’re divided over the impact that raising taxes on the wealthiest Americans would have.
A new Rasmussen Reports national telephone and online survey finds that 39% of Likely U.S. Voters think tax increases on the wealthiest Americans will help the economy, while just as many (39%) think it will hurt the economy. Another 14% think tax increases on the wealthy will have no impact on the economy.
So what should we do? We have a choice to make. The consequences are huge. We can take a lurch to the left and return to — if not expand — the policies endorsed during the Obama years. Or, we can embrace market economics, which we know encourages economic growth. The Trump administration has, in part, enacted policies to spur growth. My beef with Mr. Trump’s economic policies is that he has not reined in spending and has not reformed entitlement programs. Thank goodness that hasn’t been the case in North Carolina under Republican leadership in the General Assembly and with Gov. Pat McCrory in office. It is my hope that the in second half of Mr. Trump’s term, he will look to North Carolina’s economic success: tax reform, tax cuts, regulatory relief, and spending growth that is small and reasonable.
For an interesting assessment of the economic policies of the Obama and Trump administrations, watch this short interview with JLF’s Roy Cordato, who clearly lays out the economic choice we face.