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Politics : Formerly About Advanced Micro Devices
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To: American Spirit who wrote (289877)6/6/2006 6:24:23 PM
From: TimF  Read Replies (3) of 1571586
 
We aren't in the poor house.

And Reagan's tax cuts are part of the reason. Reagan latter raised taxes, then Bush Sr. did, and Clinton followed with another raise, but top marginal income tax rates, and rates on capital gains are still much lower than they where pre-Reagan, and since the Reagan tax cuts took effect we have had better growth than the years before the tax. Moving the top tax rate back up to 70% (the pre-Reagan rate) is not the key to prosperity, or even in the long run to a better fiscal balance.

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