Thursday, June 30, 2011
The truth about industrial production and tax rates
I'm sick of hearing all this B.S. dogma about keeping tax rates low to incentivize production. From 1945 - 1980, when top tax rates ranged from 91% to 71%, industrial production grew 225% in America.
Since Reagan through today, when top tax rates were brought down dramatically, industrial production grew 77%.
This thing about taxes is just a bunch of bull.
I am not for higher taxes; that's not what the economy needs right now, but seriously, it's just a B.S. argument.