Sean Ness, Fargo, Published September 21 2012
Letter: Pam Gulleson’s agenda flawedWe now owe $16 trillion in national debt, and U.S. House candidate Pam Gulleson has no plan whatsoever for dealing with it, except to raise taxes on “millionaires” and the elusive, ever-shifting “1 percent.”
Kevin Cramer has been endorsed by numerous business groups and small-business owners. He has played a large part in shaping North Dakota’s successful economic policies, and these businessmen recognize that Cramer gets it.
Gulleson, on the other hand, remains committed to letting the Bush tax cuts expire at the end of the year, and she wants to continue Obamacare. Those two moves alone would ensure a continuing recession. They would not “get this economy going again.” Her “solution” displays nothing more than her own lack of creative thinking and ignorance of basic economics and business.
When Maryland raised its tax rates on millionaires in 2007, more than 31,000 people moved out, leaving the state with lower tax revenues than before the increase. A new study released this summer put the revenue loss from 2007-10 (when the rate hike expired) at a whopping $1.7 billion.
Gulleson says she wants to keep businesses here in the U.S. and attract more manufacturing jobs to return. But her dedication to raising taxes on “the rich” – which include not only business investors but also many of our very own North Dakota farmers – would accomplish just the opposite. Cash is king right now and real capital investments are on hold, waiting to see what happens in November. And if Gulleson and the Democrats were to succeed in taking Washington, that capital would go right out the door, finding its way to friendlier, more profitable countries.
Just ask the former residents of Maryland. They will tell you all about it.