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Pastimes : My House
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To: Poet who wrote (2185)10/5/2002 5:32:02 PM
From: Original Mad Dog  Read Replies (1) of 7689
 
I know from personal experience that in our family, that point is somewhere between 40 and 45 percent, which coincidentally is about where we are taxed right now. My wife cut back her schedule rather than work to serve demand from additional clients, and a big factor in that was how little of the money we get to keep. If our marginal tax rate were 60 or 70 percent one of us (hopefully me <g>) would just not bother working at all.

As a result, the government's tax take from our family would go down, not up, through the higher rates. Coincidentally, most tax rate increases have not resulted in higher revenues, and most tax cuts have not dramatically lowered overall revenues (and some have not lowered revenues at all).
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