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To: mainestategop

The reality is although the rates were sky high, so were the number of deductions one could take that effectively wiped out the rates. When Reagan created his tax cuts, the receipts to the Treasury more than doubled because he also took away many of the traditional deductions like medical and credit cards.


9 posted on 10/09/2010 10:51:13 AM PDT by mazda77 (Rubio - US Senate, West FL22nd, Scott/Carroll - FL Gov/LtGov, Miller-AK US Senate)
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To: mazda77
The reality is although the rates were sky high, so were the number of deductions one could take that effectively wiped out the rates.

The myriad variety of exemptions/deductions/marginal rates over the past 97 years makes it IMPOSSIBLE to conduct a valid analysis of income tax changes over the years!

For every specific income profile it will vary from year to year and, no meaningful conclusion can be established. You can't compare SPECIFIC APPLES TO SPECIFIC ORANGES!

P.S. This is not by coincidence, it is by design! This year's congress ALWAYS "giveths with one hand and takeths away with the other"!

15 posted on 10/09/2010 11:03:20 AM PDT by ExSES (the "bottom-line")
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