We know this Rush points it out but it’s nice to read again. I am for higher taxes on ex-presidents , entertainers, rock stars, actors, CEOs that take bailouts(Cavuto says they should be required to resign.) Bill Gates wants them too. Unfortunately taxes on them are to soften us on taxes increases on us, nothing else.
Higher tax rates generate less revenue from these super rich, and more from middle class, but its fairness, not revenues.
November 11, 2008 Posted by John at 9:37 AM
Marginal income tax rate increases during the Great Depression, courtesy of TaxProf;click on link to view graph.
During the campaign, Barack Obama pledged to mimic the Hoover-Roosevelt policies that lengthened the Depression. Let’s hope that like Obama’s other promises, this one is subject to reconsideration.
http://www.powerlineblog.com/archives/2008/11/022050.php