A Video on Tax Cuts: Myths Versus Reality

Expiring tax cuts will be the next agenda of the incoming gridlocked US Congress.

And in this instructive video, Cato's Dan Mitchell debunks the propaganda used by the White House to justify higher tax rates on investors, entrepreneurs and the so-called wealthy class.

While this may be considered a domestic issue for Americans, this has geopolitical and international economic ramifications. For instance higher taxes rates may exacerbate capital outflows already impelled by the current monetary policies such as the QE 2.0.

Besides, Filipinos can learn about the fundamental ills of excessive government spending, the negative effects of taxation and the smoke and mirror propaganda employed by the 'powers that be' and their political cohorts, just to able sell the programs, that would unjustly inhibit property rights and curtail civil liberty, for the benefit of politicians.

Watch the video below.