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Monday, July 21, 2008

How Much is Enough?

For those of you interested in more than a free ride you might find this a good read. Be careful though the numbers will tell you something that you have never heard before - Lower taxes work,

...precisely what supply-siders predicted would happen with lower tax rates on capital gains, dividends and income. The economy and earnings would grow faster, which they did; investors would declare more capital gains and companies would pay out more dividends, which they did; the rich would invest less in tax shelters at lower tax rates, so their tax payments would rise, which did happen.
Their Fair Share - WSJ.com

The data show that the 2003 Bush tax cuts caused what may be the biggest increase in tax payments by the rich in American history.
Barack Obama says he's going to cut taxes for those at the bottom, but that's also going to be a challenge because Americans with an income below the median paid a record low 2.9% of all income taxes, while the top 50% paid 97.1%. Perhaps he thinks half the country should pay all the taxes to support the other half.

I know what you are thinking the rich paid more...YES, no matter what a liberal tells you!

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