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A Book for Republicans

Dan1580 Wrote: May 23, 2012 10:35 AM
Mellon said, lead many of those who earn such incomes to withdraw their money "from productive business and invest it in tax-exempt securities" Tax-expempt securities...T-Bills, Municiple Bonds, etc. So if the government raises tax rates above a certain threshold, the response by wealthy investors is to invest in the same government that raised their rates? What a scam.
Democrats have been having a field day with the cry of "tax cuts for the rich" -- for which Republicans seem to have no reply. This is especially surprising, because Democrats made the same arguments back in the 1920s, and the Republicans then not only had a reply, but one that eventually carried the day, when the top tax rate was brought down from 73 percent to 24 percent.

What was the difference then?

The biggest difference is that Secretary of the Treasury Andrew Mellon took the trouble to articulate the case for lower tax rates, in articles that appeared in popular publications,...