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Politics : American Presidential Politics and foreign affairs

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To: American Spirit who wrote (8722)	5/18/2006 7:21:47 PM
From: TimF	Read Replies (1) of 71588

Balancing the books is what's important No if the government spent $1 trillion but borrowed $100bil, its negative effect on the economy would be far less than if it spent $4 trillion but the budget was balanced. Also when tax rates get as high as FDR's rates you drive the whole economy to try to avoid taxes rather than to try and make the most efficient investments. FDR was a great president, but things were much-much different back then. We had a Great Depression then WWII to worry about. Having the great depression just made it even worse that he raised taxes to such ridiculous highs, and it also doesn't excuse or make reasonable his other semi-totalitarian acts like arresting people for giving discounts. Later in WWII high tax rates where needed, but not 90%, such a top tax bracket is all around a bad thing, providing no benefits under almost any circumstance. An 80% tax rate would have produce more tax revenue, a 70% tax rate would have produced still more. You could probably reduce the rate well under 70% without reducing income but I'll stick to what is solidly established rather than speculating or relying on disputed theories. Tim

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