Sunday, September 21, 2008

Lower tax rates, increase tax income. It works again.


" According to the negative (Obama) view, when Bush's tax cuts took effect, the share of income taxes paid by the wealthiest Americans should have declined. The rich, in this scenario, benefited from the senseless giveaway, putting a greater and greater proportion of the tax burden on the poor. Under the positive view, by contrast, the share of income taxes paid by the wealthiest Americans might increase even when you cut their tax rates, since they will work harder and reduce their efforts to avoid taxes."

http://www.aei.org/publications/pubID.28544,filter.all/pub_detail.asp

Of course, somepeople think that the rich should pay less in taxes. If so, they should raise tax rates on the highest income earners- repealing the Bush tax cuts would be one way to do this

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