The question is, should we be giving an extra $120 billion to people in the top 1 percent?
Democrats see tax cuts as the government giving people money. This is insane! Welfare is giving people money, tax cut are no such thing. One gets the impression from the Democrats that wealthy Americans are a natural resource, to be pumped for as much cash as we need. Jonah Goldberg explains very eloquently in National Review:
You can see where Democrats get this idea, after all. The top 1 percent of wage earners already provide nearly 40 percent of federal income tax revenues. The bottom 50 percent of taxpayers contribute only about 3 percent.
This is dangerous to our form of government.
According to Democrats, it's greedy to want to keep your own money, but it's "justice" to demand someone else's.
Taxes are a necessary evil. But their silver lining is that they foster a sense of accountability and reciprocity between the taxpayer and the tax collector. Indeed, democracy is usually born from this relationship. Widening prosperity brings a rising middle class, which in turn demands the rule of law, incorrupt bureaucracies and political representation in exchange for its hard-earned money.
As the tax burden shifts to the rich, and as fewer people overall pay taxes:
the people are less inclined to see government as their expensive servant and more as their goody-dispensing master.
Democrats keep telling the bottom 95 percent of taxpayers that America's problems would be solved if only the rich people would pay "their fair share" of income taxes. Not only is this patently untrue and a siren song toward a welfare state, it amounts to covetousness as fiscal policy.
. . .it's unhealthy for a democracy when the majority of citizens don't see government as a service they're reluctantly paying for but as an extortionist that cuts them in for a share of the loot.
Beware any candidate who equates tax cuts with government spending. They may cut "spending" so much that we may end up with no money at all.