High Marginal Tax Rates Are Bad For Everyone

[bobbcat]

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Forcing those among us who produce the most lose the incentive to continue to do so when higher tax rates make it no longer worthwhile. People forget too, that these "rich" people that Kerry and other leftists love to talk about raising taxes on are small business owners. You know, the group that employs the largest percentage of American workers.

[mrbowler]

Originally Posted by bobbcat

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Forcing those among us who produce the most lose the incentive to continue to do so when higher tax rates make it no longer worthwhile. People forget too, that these "rich" people that Kerry and other leftists love to talk about raising taxes on are small business owners. You know, the group that employs the largest percentage of American workers.

Kerry wanted to roll-back the tax cuts for the wealthy(high end)-closer to what Clinton had done-in which the economy added 20+ million jobs during his presidency. These upper end "rich" folks who own business, stocks, etc. actually did better because the economy did better then the current situation. Your placing the blame in the wrong area IMO.

Items to place blame:

Spending has gone thru the roof under the republican controlled congress-talking just about non-defense spending.

Health Care Costs

Immigration

The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent