Re: Obama XXIII: The Muslin Anti-Christ Wages War on the forces of Christianity!
You folks love the 1950's so much? Let's roll tax rates on the top bracket back to 91% and see if you still think the 50's are so great.
that's a bit of a technically true yet connotationally-false comparison.
The 91% top marginal rate was enacted in the middle of WW II which was an anomalous time for fiscal policy in many ways.
On an inflation-adjusted basis, it applied only to income above something like $2.65 million, while today we live in an age when people glibly talk about taxing 'millionaires' starting at $250,000.
Under which President was that top tax rate reduced by 22%?
(cue
Jeopardy theme...)
"Who was John F Kennedy?" for $800, Alex! and when that top rate was reduced to 70%, guess what happened?
"Did revenue collected by the income tax increase?" for $1,200! How about that, one of our most beloved liberal Presidents views a major cut in the Federal income tax rate as a signature economic achievement, and tax revenues went up as tax rates went down.
in general, within certain bounds, lower tax rates with fewer deductions produce better voluntary compliance (a good proxy for how 'fair' the system 'feels' to people), better economic activity, and higher tax revenue.
If you want the 'rich' to 'pay their fair share' then why isn't collecting more money from them better than collecting less??? Because people refuse to recognize empirical truth in the name of ideological purity?? I really don't know, and it's inflammatory to speculate assertively rather than wonder whether it could possibly be true that way....
Furthermore, I am seriously considering starting a thread called
Complementary: Liberal AND Conservative. To me these are not mutually exclusive, if you think carefully each emphasizes different things as "most" important while also allowing that frequently the other's points of emphasis also are "somewhat" important too. * While they are not always in agreement, only rarely are they truly anti-thetical. There is plenty of room to be both, or at least there was not too long ago.
* I can think of perhaps three 'issues' on which the liberal / conservative view would diverge, I'm not quite ready to sing kumbaya around the campfire just yet. It is more my liberal leanings than my conservative ones that leave me feeling impatient with today's liberals. They sometimes advance such inane arguments that I would be embarrassed for people to realize I generally support the same ideals as they do, except for very different reasons.