Democratic presidents Woodrow Wilson and John F. Kennedy spoke plainly about the fact that higher tax rates on individuals and businesses did not automatically translate into higher tax revenues for the government. Beyond some point, high tax rates on those with high incomes simply led to those incomes being invested in tax-free bonds, with the revenue from those bonds being completely lost to the government -- and the investments lost...
Dr. Sowell: Didn't 9/11 also have a huge impact on our economy along with boom and bust?
There was a time when Democrats and Republicans alike could talk sense about tax rates, in terms of what is best for the economy, without demagoguery about "tax cuts for the rich."
- Quotes of the day Allahpundit 7 hours ago
- Hmm: Tsarnaev sister arrested for alleged bomb threat Mary Katharine Ham 8 hours ago
- Infographic of the day: Canada explains Russia and Not Russia to Putin Mary Katharine Ham 9 hours ago
- FBI: Russians hackers attacked Wall Street after sanctions imposed Noah Rothman 10 hours ago
- Texas jury finds dad not guilty in mysterious shooting of drunk driver who killed his two sons Allahpundit 10 hours ago
- Unidentified senator to Kirsten Gillibrand: “Don’t lose too much weight now. I like my girls chubby.” Allahpundit 11 hours ago