Tax the rich backfires in Connecticut

Fox Business: Varney & Co on Connecticut’s dismal failure to boost tax revenue, by soaking the rich

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Four times in U.S. history, major federal tax cuts on the rich were tried and in every one of those cases, tax revenue increased. That’s right. In every cases, where tax cuts on the rich were tried, revenue increased.

By contrast, we now have Connecticut, trying to soak the rich and seeing serious revenue shortfalls, as a result. Will liberals ever learn?

It’s the rich, who pay the vast majority of all taxes, to begin with. Try to soak the rich, and they’ll just leave.

If you think otherwise, then you really need to read, “The Rich Don’t Pay Tax! …Or Do They?

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