From BOB KLAHN@1:123/140 to TOM WALKER on Thu Oct 9 00:53:00 2014


    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

    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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