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...
You can't leave you money in your IRA. You are required to start making withdrawals at 70-1/2 if you fail to make the required withdrawals you will pay a substantial penalty.
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."
- Quotes of the day Allahpundit 2 hours ago
- Video: Shep vs. Earnest Mary Katharine Ham 3 hours ago
- In New York City, a safety regulation makes the streets less safe Mary Katharine Ham 3 hours ago
- Federal investigators find no connection between Christie and Bridgegate Ed Morrissey 4 hours ago
- Boehner: You know what would help our economy? Immigration reform Allahpundit 5 hours ago
- White House: It’s not combat, but US troops will return fire if they’re shot at… Noah Rothman 5 hours ago