Mitt Romey paid 1.94 million in taxes in 2011….he paid more than his fair share…….if you want high tax rates like they had after WW2 the way you make them work is to destroy the industrial base of the rest of the world, like they did in WW2…..and then, when Kennedy lowered the tax rate, the government brought in more money, not less, and dittos Reagan……
High tax rates are immoral……and counter productive.
I pay a higher effective rate than Romney
With higher top tier tax rates we paid for WWII, built the interstate highway system, sent a man to the moon
What have we done since Reagan slashed them?
Did you pay 1.94 million dollars in taxes?
Become the most powerful nation on earth…until the democrats spent all of the tax revenue his tax cuts created.
You are a fukkn liar,Ronnie's tax cuts COST the treasury money dummy. Grow a brain and get honest ONCE
When Ronald Reagan took over the leadership of the United States in 1981, he inherited an economy that was in terrible shape—the worst American economy, in fact, since the Great Depression of the 1930s
Tax Cuts or Tax Redistribution?
When all was said and done, the total tax burden imposed on the American people from all sources—state and local taxes, federal income and capital gains taxes, and payroll taxes—remained basically unchanged throughout the 1980s. In the end, Reagan's reputation as a tax-cutter far outran his actual performance.
Reagan's tax policies did, however, redistribute the tax burden significantly, even if they failed to reduce it overall. By cutting income taxes, which are paid at a higher rate by the wealthy, while increasing payroll taxes, which are paid at a higher rate by the working poor and middle class, Reagan shifted the tax burden down the income scale.
During the 1980s, the total effective federal taxation rate for the poorest one-fifth of American families actually increased by more than 16%. By contrast, the effective taxation rate for the wealthiest one-fifth of families fell by 5.5%, and the richest one percent of Americans saved even more: their tax rate fell by 14.4% (AS THEIR INCOMES SOARED)
Economy in The Reagan Era
CBO finds that, between 1979 and 2007, income grew by:
275 percent for the top 1 percent of households,
65 percent for the next 19 percent,
Just under 40 percent for the next 60 percent, and
18 percent for the bottom 20 percent.
Trends in the Distribution of Household Income Between 1979 and 2007 Congressional Budget Office
From 1992 to 2007 the top 400 earners in the U.S. saw their income increase 392% and their average tax rate reduced by 37%
It s the Inequality Stupid Mother Jones
It's the Inequality, Stupid
Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."
Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."
Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."
