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That didn't happen under Eisenhower when the top tax rate was 92%. Although I think its not a 92% income tax that is needed but a high tax on capital.
by profunctor 8y ago
That didn't happen under Eisenhower when the top tax rate was 92%. Although I think its not a 92% income tax that is needed but a high tax on capital.
- rich-and-poor 8y agoFair enough, I think given the replies I've received that I need to learn more about tax rates and growth; since I've already started the conversation with you do you have any suggestions on how I should understand this topic better?
- mikestew 8y ago"And what happened next, Grandpa? Did such oppressive tax rates stem economic growth?" "My boy, not at all! What followed was one of the most prosperous times in the country!" I'm not saying correlation, causation, blah, blah, blah. But such rates not only didn't "destroy a generation", it's a time many look back to fondly (in which case they're probably white and male).