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Politics : Formerly About Advanced Micro Devices
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To: TopCat who wrote (359373)11/19/2007 2:56:44 PM
From: combjelly  Read Replies (1) of 1587368
 
"How so?"

Umm, let's see. The top rate was over 90% in 1963. Kennedy cut that to 77%. It was later cut to 70%.

Given the increase in revenue, those cuts seem to be appropriate.

However, the following cuts didn't have the same effect.

truthandpolitics.org

Now, there are several things that are different. For one, the top rate was lower. For another, where the top rate kicks in was also lowered.

So the top rates were different and the the thresholds were different. The fact that they didn't have the same effect should come as no big surprise.

The fact that the tax increase during the Clinton years resulted in revenue increases means that the situation was very different. If there needs to be any proof that we are to the left of the Laffer curve, there it is.
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