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Mutt · 12-12-2012, 12:14 AM

Nobody ever wins a political argument which is the way it should be, because neither side is ever totally right all the time and history proves it.

It is very interesting to see how high income taxes have been in the past on the biggest earners and that the economy did well, at a time where we were looking under rocks for Commies we had personal income tax rates that today would make conservatives scream 'That's Communism!'.

A quick Google search found some analysis that seemed pretty reasonable, back in the 50s and 60s the tax revenues raised by those high tax rates went to pay off the debt, debt held domestically mostly, so the money went back into the economy which is a good thing. Today's debt is heavily foreign debt, so the money goes out of the country, not a good thing.

My take is personal income tax rates currently are fair, corporate taxes are too high and the loopholes are ridiculous. Flat tax and/or national sales tax is the solution. And when there's a national sales tax, American made goods should have a lower tax rate than foreign made goods.

12-12-2012, 12:14 AM
Mutt Too lazy to set a custom title Industry Role: Join Date: Sep 2002 Posts: 34,431	Nobody ever wins a political argument which is the way it should be, because neither side is ever totally right all the time and history proves it. It is very interesting to see how high income taxes have been in the past on the biggest earners and that the economy did well, at a time where we were looking under rocks for Commies we had personal income tax rates that today would make conservatives scream 'That's Communism!'. A quick Google search found some analysis that seemed pretty reasonable, back in the 50s and 60s the tax revenues raised by those high tax rates went to pay off the debt, debt held domestically mostly, so the money went back into the economy which is a good thing. Today's debt is heavily foreign debt, so the money goes out of the country, not a good thing. My take is personal income tax rates currently are fair, corporate taxes are too high and the loopholes are ridiculous. Flat tax and/or national sales tax is the solution. And when there's a national sales tax, American made goods should have a lower tax rate than foreign made goods. __________________ I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!