Peter1469
12-08-2012, 07:19 AM
http://online.wsj.com/article/SB10001424127887324705104578151601554982808.html?m od=googlenews_wsj
This is not a long article, but it has a lot of facts in it. You should read it all. It is amazing that the MSM and the mal-educated among us advance the argument that the rich use to be taxed at 90+% and the economy worked just fine.....
Democratic Party leaders, President Obama in particular, are forever telling the country that wealthy Americans are taxed at too low a rate and pay too little in taxes. The need to correct this seeming injustice is framed not simply in terms of fairness. Higher tax rates on the wealthy, we're told, would help balance the budget, allow for more "investment" in America's future and foster better economic growth for all. In support of this claim, like-minded liberal pundits point out that in the 1950s, when America's economic might was at its zenith, the rich faced tax rates as high as 91%.
This is not a long article, but it has a lot of facts in it. You should read it all. It is amazing that the MSM and the mal-educated among us advance the argument that the rich use to be taxed at 90+% and the economy worked just fine.....
Democratic Party leaders, President Obama in particular, are forever telling the country that wealthy Americans are taxed at too low a rate and pay too little in taxes. The need to correct this seeming injustice is framed not simply in terms of fairness. Higher tax rates on the wealthy, we're told, would help balance the budget, allow for more "investment" in America's future and foster better economic growth for all. In support of this claim, like-minded liberal pundits point out that in the 1950s, when America's economic might was at its zenith, the rich faced tax rates as high as 91%.