Talk of The Villages Florida - View Single Post - A Little Income Tax History
View Single Post
 
Old 03-12-2009, 02:40 PM
Guest
n/a
 
Posts: n/a
Default

As always intereting facts and assumptions from you and thanks for that !!

It interested me quite a bit thus I did some research on marginal tax rates.

There are studies out that and the link below goes to 2004 which indicates a very direct correlation between these marginal tax rates and the movement thereof AND that find "high and increasing marginal taxes have serious negative consequences on economic growth, labor supply, and capital formation”.

This report from which the above quote comes is from 2004, well before President Obama was on the scene and thus is not politically motivated in any way and is from the Library of Economics and Liberty, which to my knowledge anyway has no political agenda.

http://www.econlib.org/library/Enc/M...lTaxRates.html

Secondarily, I would point out an editorial in todays Wall St Journal which speaks to the language and charts used in the President budget which suggest that those who earn much will not simply pay for many of the programs which frankly many would not oppose but suggest that the agenda is that this folks will "pay for" .

Language in the budget such as "While middle-class families have been playing by the rules, living up to their responsibilities as neighbors and citizens, those at the commanding heights of our economy have not." suggest a motive that is not exactly what you are looking for.

http://online.wsj.com/article/SB123681860305802821.html

Then when you check WHO has been paying tax and who has not it becomes apparent that those who are going to be "saved" have not been paying tax anyway !

Interesing question and discussion !!