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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (747853)	10/18/2013 2:51:02 PM
From: bentway	Respond to of 1573249

What Ten is loathe to admit is when we taxed wealthy people at 91%, they'd hire a smart tax accountant, who'd whittle their taxes down to 50%, and be hailed as a genius. We need to return to tax progressivism, and especially to taxing capital gains more. That's where the wealth went.

To: SilentZ who wrote (747853)	10/18/2013 2:53:01 PM
From: Tenchusatsu	Read Replies (3) \| Respond to of 1573249

Z, Except for the fact that the entire history of the 20th century shows the exact opposite. Income inequality was lowest when taxes were most progressive. That's a fact. Taxes went up under Clinton, yet the rich still got richer. Some of the biggest gaps between rich and poor are in states with the most "progressive" tax rates. You're only pointing out one part of history, which was right after WWII and all of the inflation that went along with it. No one paid the highest rates because no one earned that much. Progressive tax rates are one of the worst ways to "spread the wealth." Most of the 20th century and all of the current century proves it, yet liberals either want to ignore history or change it. Tenchusatsu