Quote:
Originally Posted by VITE1
And they fail to recognize that during Truman and Eisenhower the rest of the world was a smoldering ruin.
By the time Kennedy came into office the economy was stagnant. After he lowered the tax rates the 60-'s exploded in GDP growth and job creation.
What you and the rest of the left forget is no matter how high you raise the tax rates once you start collecting more than 18% of GDP it peters out. The rich move assets overseas and the middle class incomes go down so they pay less in actual taxes.
What is interesting is that once Russia removed their old tax system and changed to a flat tax their tax receipts went up. After research they found that the number one reason for the tax receipts going up was it was cheaper to pay the lower taxes than trying to avoid them.
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overseas? you're kidding,right? do you know how many jobs went overseas during Bush? have you heard the groaning of the walls of Swiss banks about to explode with American corporate cash? BTW we will never have a flat tax. the Wealthy Elite are terrified of it.