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The Tax Revolt Is Over, Here Comes the Money Revolt

Marie169 Wrote: Mar 27, 2013 8:54 AM
Excellent article .

The breakout headliner issue in 1978 was “Tax Revolt.” A Time Magazine cover showed Howard Jarvis shaking his fist under that headline. Proposition 13 time. Then? The Tax Revolt went, as we would now say, viral. Citizen discontent — and political activism — against high tax rates turned into a national, and then international, phenomenon. The revolt was a major factor in toppling President Carter. It led the U.S. top income tax rate to collapse from 70% to 28%. Then, rates worldwide cascaded down and global prosperity rapidly soared. Will the 21st century equivalent be a Money Revolt?

A recent, striking,...