Hate To Say This On Fox

October 19, 2012 § Leave a comment

“I hate to say this on Fox — and I hope I’ll be allowed to leave here alive — but I don’t think there is anyway we can cut spending enough to make a meaningful difference. We’re going to have to raise taxes on very rich people, people with incomes of like say, 2, 3 million a year and up, and then slowly move it down. Two-fifty a year, that’s not a rich person.”

  • Ben Stein, Conservative economist and political analyst, October 18, 2012
  • Source: Fox & Friends (video)
  • Context: Ben Stein, in an appearance on Fox & Friends, advocated for a higher tax rate on the wealthy to the shock of the three hosts. “You do not think Washington just has a spending problem?” asked Doocy, to which Stein replied:

“I do not think they just have a spending problem. I think they also have a too-low taxes problem. And with all due respect to Fox, whom I love like brothers and sisters, the taxes are too low.”

  • The hosts attempted to defend”trickle down economics,” but Stein was quick to point out that there is no connection between the level of taxation and level of economic activity, pointing out that the nations most prosperous years were also ones with very high tax rates:

“The evidence is that there is no clear connection between the level of taxation and the level of economic activity. The biggest growth we’ve ever had in this country was from roughly 1941 to roughly 1973, that was the best years we ever had and those were years of much, much higher taxes than we have now, during war time and during peace time. So, the economy can grow very fast, even with much higher taxes. And we’re going to have to do something.”

  • Doocy was quick to point out that “taxes were at 70, 80 percent then” to which Stein responded by agreeing:

“I know. And yet, we were very prosperous, we were extremely prosperous. I mean, the highest rate was in the 90s during parts of the 50s and, yet, we were very prosperous.”


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