Hamiltonian
Member
So why not take the tax rates back to Carter where the top producers were paying 70%
Or if we really want to incrase our revenue lets go to 90$% as was with Kennedy
You are so full of it. With higher taxes, the economy would not be expanding, thus fewer people working, thus less tax collected
The revenues increased when Kennedy cut taxes
The revenues DOUBLED under Reagan to over $1 trillion in eight years with tax cuts
and revenues are soaring under Pres Bush
Libs cannot see the forest for the trees
How about the tax revenues we had during the Clinton administration. I'll tell you a little bit about optimum tax rates. Why not cut taxes way down so that you have to pay a penny for every $10,000 you earn. This would surely not increase our tax revenue because even if it would help the economy, it would not increase revenue since the government would be getting such a small piece of the economy. Similarly if you increase tax rates so that you're paying $99 in taxes for every $100 you earn, that will hurt the economy so much that tax revenues will fall. What you have to do is to weigh the factors of the tax rate and the harm to the economy against each other, and find at which tax rate you take in the most income. This is clearly not the tax rate that we're at. We would be taking in even more revenue if we repealed the tax cuts.