Those who complain loudly about how many jobs have been “exported” to other countries because of international free trade totally ignore all the jobs that have been imported to the American economy because of that same free trade. Siemens alone employs tens of thousands of American workers, and Toyota has already produced its ten millionth car in the United States. —Thomas Sowell —Low Taxes Do What? (Hoover Digest)
I’d never considered this perspective before. Here’s another fascinating quote, an attempt to counter the meme that Regan cut taxes for the rich and soaked the poor, leading to defecit spending:
What Reagan’s “tax cuts for the rich” actually cut were the tax rates per dollar of income. Out of rising incomes, the country as a whole—including the rich—paid more total taxes than ever before.
As Sowell puts it, “Simple stuff like this is not very exciting for economists, and there is no payoff in one’s professional career for clarifying such things for the general public.” That kind of explanation won’t fit on a bumper sticker as easily as something designed to get you in the gut, like “AIDS: The Reagan Vietnam.”
Sadly, I think that regardless of their political persuasion, this topic would probably put the average freshman comp student to sleep, so I won’t bother Googling for a good counter-opinion to present as a pair of readings. Someday maybe I’ll teach an upper-level rhetoric course…