The Numbers Are In
The supply siders had it right with the lower of taxes. With the lower rates on income, dividends, and earnings, the economy grew faster. With that, dividends, income etc grew. The rich invested less in tax shelters and taxes grew.
The top 1% of earners earn 22% of the income and pay 40% of the taxes. For me this is way progressive enough. In fact never in history have the rich been so hit, and been happily so. The top 5% earn 37% and pay 60%. The top 50% pay 97% of taxes. I think you get the picture. About half of the country pays no income taxes!!! Where does Mr Obama want to cut taxes? They don't pay much in the way of taxes already.
Given the histor that lowering taxes on the rich stimulate the ecomony and raise taxes on the wealthy (as there is more wealth) and that raising taxes causes the opposite is it any stretch to see that Mr Obama's tax plan will hurt the country and everyone in it??
These were not numbers from McCain or Bush. They are from the IRS.
Roy Hurst
IL State Captain RLC

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