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...
Better yet: Mitt makes $100 million, pays tax of 13%, and is left with only $87,000,000 Gloria makes $0 receives welfare and nets $12,000. No wonder Mitt is upset with the takers.
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."
- Exonerated, Chris Christie taunts the press by embracing Roger Goodell Noah Rothman 42 mins ago
- Scotland votes No to independence Ed Morrissey 1 hour ago
- Quotes of the day Allahpundit 10 hours ago
- Video: Shep vs. Earnest Mary Katharine Ham 11 hours ago
- In New York City, a safety regulation makes the streets less safe Mary Katharine Ham 12 hours ago
- Federal investigators find no connection between Christie and Bridgegate Ed Morrissey 12 hours ago