In response to:

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

Irresponsible47Percenter Wrote: Sep 27, 2012 10:42 PM
Your constant insults grow tiresome. No, I do not believe that Corporations have two arms, two legs, etc. But I believe that it is dangerous folly, even blasphemy, to extend to Corporations the same Rights and Freedoms that God bestowed upon Human Beings. And Mr. Romney claims that 47% pay no Federal Income Tax, and he therefore believes that they do not take personal responsibility for their lives. Or so he says to wealthy RightWing donors, anyway. I don't know about exactly 47% of the people being on some form of Govt asistance. But you have so proclaimed, I suppose we mere non-alleged-30-year-economists have no choice but to accept it as Gospel.

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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