...

FDR tries that in the 30's and it weas a DISMAL FAILURE.
In fact the TAX revenue Dropped.

Tom, when in the 30s? It was a depression.

Compair this socialist trick with JFK and Reagan LOWERING
the tax bracket which resulted in an INCREASE in the IRS
revenue.

Reagan cut taxes and the debt tripled. Bush I waited too long to
end Reaganominics and that tripled turned into quadrupled.

Reagan increased taxes and revenue increased, Bush I increased
taxes and revenue increased, Clinton increased taxes and revenue
increased. Obama increased taxes and we had the faste drop in
deficit this country has seen in probably a generation.

The only time in the history of this country when a president
got taxes cut and it can be actually shown was JFK, who cut
taxes from 90somthing % to 70something%.

If you ever look at the Laffer curve, really look at it,
understand the most important thing. It is a standard curve,
where both the upper end and the lower end result in lower
revenue. If you look at it the peak is about 50% peak income
tax. Other economists have verified that. Which is why JFK's
cuts worked.

Reagan cut them to the 40% range. The only reason revenue
increased was the economy grew, the same reason revenue grew
most of the time. That 40% is below the peak revenue marker.
Today it's even lower thanks to GW Bush.

Much of the distortion of our economy is from tax cuts aimed at
the rich.

BTW, I was looking the other day at some other economic stats,
and ran across a detail of interest. Just before the Great
Depression began we had a run up in income inequality. The rich
started getting all the gains. Look at what is happening now.



BOB KLAHN bob.klahn@sev.org http://home.toltbbs.com/bobklahn

... If God intended us to be metric he would have given us ten fingers.
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