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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (105235)5/23/2011 5:44:04 PM
From: TimF2 Recommendations  Read Replies (1) of 224820
 
what would they say about the 90% income tax rate way back when Eisenhower was President 60 years ago?

I'd say it was an injustice, but one started by FDR and the congress then, not by Eisenhower. Also an injustice that didn't impact many people, even if you took no efforts to avoid tax liability, the 90% rate didn't kick in until what was then a very high level of income, and even the people who could in theory be effected had plenty of motivation and ability to avoid such high tax rates.

In addition to an injustice, its also foolishness. Not only are such high tax rates harmful (whether the harm is people paying them, avoiding efforts to make so much because they don't care to have almost all of it taken away, or jumping through government hoops to meet the standards for tax breaks so they can avoid paying that rate), they also produce lower revenue than lower tax rates would produce.
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