Quote:
Originally Posted by Thepaindispenser
To me it is difficult comparing tax rates from the 1940's and 1950's to today as we were paying down war debt but more importantly after the devastation of World War II in Europe and Asia, socialists winning all over Western Europe, and communism taking over Eastern Europe and China, despite high US tax rates, we were the only game in town as our infrastructure was the only one left from industrial countries that was still intact. You either manufactured in the US and paid high tax rates or you did nothing.
I don't think trickle down applies in today's world as jobs and investments can easily be shifted to almost any where in the world, especially to those with tax friendlier environments. We have the highest corporate tax rates in the world and real unemployment over 11%.
I definitely don't think raising tax rates to give a bunch of corrupt, elitist politicians more money to give to their big donor pals, especially corrupt public sector unions.
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when bush passed his tax cuts, it was supposed to deliver job growth. hasn't happened. the cuts didn't do anything they were billed to do, except grow the deficit. lowering tax rates, again, for the wealthy didn't do a thing to get them to grow jobs-why would it? you must give the wealthy incentives to spend, not hold, their money. lowering taxes isn't going to induce them to shelter their money anywhere but in their own pockets.
and go back to what tax rates were around ww1-much higher than now also. it's amazing the difference between now, and previous decades.