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To: goodnesswins
In the 90s the top rate was what? 4 points higher? We had plenty of business creation and job creation then too. If the top rate went back up, as it likely will, businesses would still be created.
103 posted on 01/31/2004 10:35:31 PM PST by Huck (Hold on to your wallet--the President's awake!)
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To: Huck
Nothing like a little class-warfare to prove your conservative credentials.
106 posted on 01/31/2004 10:37:05 PM PST by Texasforever
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To: Huck
In the 90s the top rate was what? 4 points higher? We had plenty of business creation and job creation then too. If the top rate went back up, as it likely will, businesses would still be created.

Then why not raise the top rate to 70% - Like it was before Reagan. After all, businesses and jobs were still created then, right? Hell, raise it to 100% and confiscate all income above some number you determine to be sufficiently affluent. Then take the proceeds of those tax increases, and give them to the poor, unemployed people at the bottom of the income ladder. You know, from each according to his ability, to each according to his need.

Have you ever heard of the Laffer Curve? It's been empirically demonstrated time and time again to be valid. The higher the tax rate, the slower the rate of business growth and job creation, and the smaller the marginal increase in tax revenue. At some point, increasing tax rates decreases tax revenue.

117 posted on 01/31/2004 10:44:36 PM PST by LouD
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