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Politics : PRESIDENT GEORGE W. BUSH
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To: SecularBull who wrote (354176)2/5/2003 4:13:25 PM
From: Kenneth E. Phillipps  Read Replies (3) of 769670
 
Yes, a reduction in a tax rate of about 70% to a top rate of about 50% did spur growth in the economy but you can't reason from that - that a reduction from 38% would spur ecomomic growth in this economy because it depends on what the taxpayer does with the money. In the 1960s that money was invested and produced growth. Today, those extra dollars would be mostly saved - just less revenue for the government and no stimulus.
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