Tax Fairness

[From 5/24/08, in response to a column mocking government attempts at “fairness.”]

To the editor:

Paul Szydlowski (“’Fairness’ shouldn’t replace common sense”) is kidding, right?

In his bid to prove that tax fairness harms the U.S. economy, he can do no better than citing a tax cut in the early 1990s that “backfired” by putting yacht-makers out of business.

Come on. During the “unfair” 1990s (under Democrat Bill Clinton), the U.S. economy had one of its most successful periods in modern history. Under Clinton’s presidency, the economy expanded by 50% in real terms. By the time he left office, America’s GNP equaled one quarter of the entire world economic output.

In addition, the unemployment rate dropped by half (to 4%, a 40-year-low) while the economy created some 15 million jobs. And the stock market grew even faster - by more than three times - creating thousands of millionaires among middle-class stockholders.

Clinton also left office with a huge and growing federal budget surplus.

And Szydlowski prefers the last eight years under GOP rule? Why? Because they’ve been more fair?