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Originally Posted by tallanvor
All your points seemed to be based on the bad information that the wealthy were paying 90% of their income to the government before (every sentence contains some reference to 'after WWII') and therefore we would be fine doing it again. The wealthy weren't paying 90%. I addressed your points.
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You're the one who is so hung up on the 90% number that you can't actually address the underlying point. I talk about "after WWII" because that is when we raised taxes to deal with the issue of a debt load at 100% of GDP, you know, just like the debt load today.
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As to why high tax rates hinder peoples ability to become wealthy, that seems pretty straight forward. If the government is taking large portions of your money then it is hard to accumulate a lot........
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Except that when we had higher tax rates, we had higher growth rates, both GDP and wage, and our productivity increased dramatically. After 30 years of "trickle down," all we have are massive deficits and debt, 8% unemployment, and stagnant median wage growth stagnation combined with upper incomes increasing dramatically.
In other words, the facts disagree with your opinions.