Economics writer Stephen Moore says President Barack Obama’s obsession with fairness will make everyone poor.
“Fairness is a good principle but should not be put ahead of growth,” Moore said in an interview with The Daily Caller about his new book, “Who’s the Fairest of Them All?: The Truth about Opportunity, Taxes, and Wealth in America,” released Tuesday. “There’s nothing fair about making everyone poor.”
Moore, who serves as an editorial board member and senior economics writer at the Wall Street Journal, went further, suggesting “Obama wants to make everyone equally poor.”
Asked what three policies he would advocate to revive America’s moribund economy, Moore said, “Flat tax with no double tax on savings and investment. School choice for every child in America. Drill baby drill.””
Below, see TheDC’s full interview with Moore about his book, America’s long-term debt problem and more:
Why did you write the book?
Because Obama has made class warfare the central premise of his campaign and because most Americans don’t know the truth about who really pays the taxes in America.
What’s wrong with fairness?
Fairness is a good principle but should not be put ahead of growth. There’s nothing fair about making everyone poor.
When the president talks about fairness, what does he mean? And what would the consequences of his conception of fairness be?
Obama wants to make everyone equally poor. You have to create wealth before you can redistribute it.
In your mind, what would a fair tax system look like?
The flat tax is fairest of them all. If you make 10 times more than I do you should pay 10 times more tax. Also, everyone should pay something. The 47 percent issue is a big problem.
Is there an example of a country which has adopted a “fair” system based on President Obama’s view and a “fair” system under your definition? What does the comparison of the two look like?
Hong Kong has the best tax system — a flat tax that made that island one of the richest places on earth.
What do you say to those who say that America boomed in the 1950s when the top tax rate was 90 percent, so therefore raising taxes on the rich won’t inhibit strong growth?
In the 1950s we were the only game in town and overall taxes were much lower. Now we are in a competitive world where everyone is cutting tax rates except for us. This is a reason businesses outsource jobs.
What type of tax reform would you like to see implemented in the U.S.? Should there be progressivity to it?
One rate for everyone. Have a deduction for one’s self and kids and no other deductions. Progressive tax rates were one of the central tenets of the “Communist Manifesto.”
How serious is our long-term debt problem?
The debt problem is mostly a growth problem. We aren’t growing fast enough so the debt to GDP ratio keeps rising. We will never get to a balanced budget with an economy that isn’t growing at least 3 to 4 percent. Also we have to privatize social security, eliminate welfare for the able bodied and terminate Obamacare.
What three things would you tell the next president to do to get our economy rolling again?
Flat tax with no double tax on savings and investment. School choice for every child in America. Drill baby drill.