In response to:

The Perils of Tax Rate Nostalgia

None1257 Wrote: Dec 05, 2012 1:30 PM
When is it more likely the rich will pay more in taxes? When the government wants to spend the money they hope to get from the rich. When is it more likely the rich will not have to pay more in taxes, and for that matter when will EVERYONE have to pay less taxes? When the government does not want to spend the money they get from the taxes. So, if republicans and conservatives don't want the rich to pay more, what should the do? Reduce government spending, not increase overall government spending?

A version of this column appeared originally in USA TODAY.

Americans have always reveled in nostalgia about the music, fashion or favorite foods of bygone eras, but a sudden yearning for the high tax rates of yesteryear represents a startling new development. While some opinion leaders pine openly for the tax system that once claimed a big majority of income from top earners, their cozy, communitarian vision offers a deeply distorted view of those good old days.

In his defiant "Twinkie Manifesto," professor Paul Krugman, Nobel Prize winner in economics, affectionately cites "the '50s — the Twinkie Era"...