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...
REDISTRIBUTION Clarence makes $50,000 yearly is taxed at 75%..... nets $12,500 Leroy makes $25,000 yearly is taxed at 50% ..... nets $12,500 Bob makes $12,500 yearly is taxed at 0%..... nets $12,500 Gloria makes $0 receives Government Assistance..... nets $12,500
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."
- Ukraine: Another 3 AM wake-up call going unheeded Ed Morrissey 1 hour ago
- Welfare reform is officially on life support in NYC Jazz Shaw 2 hours ago
- Why won’t the White House explain how off-budget ObamaCare money got spent? Ed Morrissey 4 hours ago
- Are bans on high capacity magazines constitutional? Jazz Shaw 5 hours ago
- Quotes of the day Allahpundit 17 hours ago
- EPA exonerates Christie administration in obscure bridge-related offense someone made up Mary Katharine Ham 18 hours ago