Kenneth416 wrote: While I will not be affected by the increase in the marginal rate of taxation of salaries and wages from the current 35% to 39.6% (as under the Clinton-era), I doubt that it will have a serious effect on the behavior of the highest earners. Note that, for a high earner who earns $1M, the additional income tax will be only $46,000, less than the cost of the luxury Mercedes or Lexus he or she drives (and which is probably provided by his/her employer, anyway). The real bite comes in the tax on Dividends and Cap Gains, where the...
Again, the working conditions and pay have been awful (and were rapidly falling in comparison to the rest of the world) under decades of socialism. These things do not (and cannot) change magically overnight. However, the greater adoption of market principles has improved the living standards of more people more rapidly than at nearly any other time in history. btw, no competent economist or historian argues that protectionism built this country because only a buffoon believes such an utter disconnect from reality.
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