Paul Krugman spells it out on "Morning Joe"

[Motown_Johnny]

"For the best 30 years this country had the top tax rate was between seventy and ninety percent."




Thank God SOMEBODY finally said it!!!

[lamp_shade]

1. Krugman?

[mmonk]

2. Yep. Reality beats the tax cut cult belief system if only people

would look at history.

[madokie]

3. Thats damn sure worth a recommend

[slor]

4. That was not Krugman...

it was Robert Reich.

[mmonk]

5. Thanks.

Reich is correct.

[slor]

7. You are quite welcome n/t

[madokie]

6. That'll work too

[Lost4words]

8. why do you hate America?

:sarcasm:

[scheming daemons]

9. That was Reich... not Krugman

[safeinOhio]

10. You have to remember that the rich are the producers

as in Zero Mostel and Gene Wilder.


credit to Klook

[yodermon]

11. The point of those High Tax rates was not just more gov't Revenue..

it forced companies to reinvest their profits in the *company*.. ie JOBS!
no one is gonna *actually* let 90% of their salary (marginal) go to the goverment!!!

Tax revenue as percentage of GDP didn't skyrocket during those times; it stayed around 16%!!