Earlier you alluded to Supply-side economics-or now commonly called, “Trickle-Down”. It is worth noting that George H.W. Bush while debating Reagan in the 1980 primary referred to it as “voodoo economics.” I think he was right. In the 1950s and 1960s, when the economy was booming and we had the largest middle-class in US history, the wealthiest Americans paid a top income tax rate over 90%. Today, the richest 1% pay an effective federal income tax rate of around 24%. Lower taxes on the wealthily has not lead to the promise of robust growth—but for the record, I’m not one of those “soak the rich” advocates. After all, I’m near the top 10% and would consider myself in the economically, “thriving” category. Moreover, I can understand the idea of correlation, does not always mean causation and with all things related to the economy, there are just too many variables to ever effectively do a controlled
Earlier you alluded to Supply-side economics-or now commonly called, “Trickle-Down”. It is worth noting that George H.W. Bush while debating Reagan in the 1980 primary referred to it as “voodoo economics.” I think he was right. In the 1950s and 1960s, when the economy was booming and we had the largest middle-class in US history, the wealthiest Americans paid a top income tax rate over 90%. Today, the richest 1% pay an effective federal income tax rate of around 24%. Lower taxes on the wealthily has not lead to the promise of robust growth—but for the record, I’m not one of those “soak the rich” advocates. After all, I’m near the top 10% and would consider myself in the economically, “thriving” category. Moreover, I can understand the idea of correlation, does not always mean causation and with all things related to the economy, there are just too many variables to ever effectively do a controlled