In response to:

If You Want to “Soak the Rich,” Keep Tax Rates Low

FletchforFreedom Wrote: Sep 27, 2012 9:32 AM
that out-of-control spending offsets this remains a problem. And your history regarding Clinton is factually wrong. In reality, the Clinton tax hikes slowed the economy to the weakest psot recession growth in history to that time and left an economy spiraling into recession for more than a year before he left office. You are falling for the post hoc ergo propter hoc fallacy when the notion that higher taxes yield prosperity has been completely disproved.

I’ve pulled evidence from IRS publications to show that rich people paid a lot more to Uncle Sam after Reagan reduced the top tax rate from 70 percent to 28 percent.

 

But the Gipper wasn’t the only one to unleash the Laffer Curve. The United Kingdom saw similar dramatic results when Margaret Thatcher lowered the top tax rate from 83 percent to 40 percent. Allister Heath explains.

During the 1970s, when the tax...

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