jparker iii Wrote:
Nov 29, 2012 3:53 PM
Democrats seem to love higher taxes as long as someone else pays them! Froom 1937-1962, the top rate was 90+% but the wealthy paid no taxes--They hid behind tax shelters. That continued until 1982 when Reagan cut rates to 50%. Then the shelter had to be really safe as they had to invest an equal amount. When they were lowered to 28% in 1986, shelters all but disappeared. The wealthy can always minimize their tax burden by putting their money in tax favored investments, That is another reason for a flat tax. As it stands today, too many pay no taxes but expect the government to do too much. We must return to reality before our utopians destroy our country....