An open letter to President Obama

Barack Obama  (Photo by Saul Loeb-Pool/Getty Images)

January 26, 2012

President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

In your State of the Union Speech you asserted, “We need to change our tax code so people like me pay our fair share.” There is a problem with that statement. If we want to get out of this recession we will not do it but raising taxes on the job creators. Also raising the tax rates will not necessarily translate into higher revenues. Did you know that the highest tax rate of 1988 was 28% and it yielded FIVE TIMES THE AMOUNT OF REVENUE THAT THE 70% TAX RATE DID IN 1980!!!

You need to go to the Cato Institute website and check out their videos on the Laffer Curve. I actually got to hear Arthur Laffer speak in 1981 at the University of Memphis where I was a student. He predicted what would happen in the 1980’s and it did occur as he predicted.

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your committment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

The Laffer Curve, Part III: Dynamic Scoring

Uploaded by on May 28, 2008

A video by CF&P Foundation that builds on the discussion of theory in Part I and evidence in Part II, this concluding video in the series on the Laffer Curve explains how the Joint Committee on Taxation’s revenue-estimating process is based on the absurd theory that changes in tax policy – even dramatic reforms such as a flat tax – do not effect economic growth. In other words, the current system assumes the Laffer Curve does not exist. Because of congressional budget rules, this leads to a bias for tax increases and against tax cuts. The video explains that “static scoring” should be replaced with “dynamic scoring” so that lawmakers will have more accurate information when making decisions about tax policy. For more information please visit the Center for Freedom and Prosperity’s web site: http://www.freedomandprosperity.org.

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