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Politics : PRESIDENT GEORGE W. BUSH
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To: goldworldnet who wrote (314591)11/5/2002 12:46:32 PM
From: David Lawrence  Read Replies (2) of 769667
 
It's a proven fact that lower marginal and capital gain tax rates increase tax revenues while at the same time stimulating productivity and the economy as a whole.

When Ronald Reagan took office in 1981, the top marginal tax rate inherited from Carter was 70%, and federal revenues generated by tax revenue was about $500 billion. When Ronald Reagan left office in 1989 the top marginal rate was 28%, and federal revenues had nearly doubled to $915 billion.

And, before someone jumps in citing the soaring deficits that occurred at the same time, that was due to massive increases in defense spending, which brought on the fall of the Soviet Union and the Iron Curtain.
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