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...
Of course, Libs, Progressives, Dems, the MSM - but I repeat myself - don't want high tax rates in order to optimize economic growth. They want to punish the wealthy. They don't believe anyone should be allowed to make that much money - that's their whole point.
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."
- New solution to border crisis: Send U.S. officials to Honduras to give kids refugee status? Allahpundit Jul 24, 2014
- Boehner accuses White House of sabotaging Veterans Affairs bill Noah Rothman Jul 24, 2014
- NFL suspends Ray Rice for two games in domestic-assault case Ed Morrissey Jul 24, 2014
- Great news from Hillary: The Russian reset worked Allahpundit Jul 24, 2014
- Thursday TEMS: Duane Patterson, Daniel Garza, Mike McFadden Ed Morrissey Jul 24, 2014
- FEC Chairman sounds alarm to Hot Air: There’s a ‘move afoot to constrict press freedoms’ Noah Rothman Jul 24, 2014