Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: GuavaCheesePuff
I'm reminded of the story of a self made entrepreneur of the time when tax rates did top out at 90%. After earning a fortune making automobile test equipment, he suddenly decided to start an airline. The airline business was highly competitive and his startup was continuously losing money. When asked why he kept wasting money on it, he replied "why give your money to the government, when you can use it to recruit, hire, and train stewardesses."

It's a true story, and it simply points out what happens when you raise tax rates too high. You simply stop the creation of wealth, which is the engine of any economy.

24 posted on 01/19/2019 12:04:27 PM PST by norwaypinesavage (Calm down and enjoy the ride, great things are happening for our country)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: norwaypinesavage

My father told me one November, 1959? - 60? that he was taking no more work until after the New Year started. I asked why?

He said, “Who takes on the liability that comes with work to make a $1,000, when you will only keep $90 of it?

(Top rate was apparently 91%)


27 posted on 01/19/2019 12:07:45 PM PST by SaxxonWoods (The internet has driven the world mad.)
[ Post Reply | Private Reply | To 24 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson