He says raising those rates would simply encourage wealthier taxpayers to hide their money and wouldn’t boost revenues as predicted by “the anti-Clinton” — President Obama.
And he warns that the expiration of the Bush-era tax cuts next year could cause a double-dip recession.
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Moore is a senior economics writer and editorial board member for The Wall Street Journal. He is the founder and former president of the Club for Growth and a best-selling author. He also wrote the cover story for Newsmax magazine’s October issue.
Moore’s new book is “Who's The Fairest of Them All: The Truth about Opportunity, Taxes and Wealth in America.”
In an exclusive interview with Newsmax TV, Moore was asked if Obama and the Democrats are advocating higher taxes on the wealthy to improve the economy or to win over middle-class voters.
“I don’t think anybody thinks that raising tax rates will improve the economy. At least I certainly hope no one does because the history is so unequivocal that that’s not the case,” Moore says.
Read more on Newsmax.com: WSJ Economist Moore: No Grounds Logic for Obama's Tax on Wealthy
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Via: Newsmax
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