Friday, May 27, 2011
Democrat Plan for 62% Tax Rate
"You don't have to be Jack Kemp or Arthur Laffer to understand that a 29 percentage point rise in top marginal rates would make America a highly uncompetitive place.
What is particularly worrisome about this trend is the deterioration of the U.S. tax position relative to the rest of our economic rivals. In 1990, the highest individual income tax rate of our major economic trading partners was 51%, while the U.S. was much lower at 33%. It's no wonder that during the 1980s and '90s the U.S. created more than twice as many new jobs as Japan and Western Europe combined."
Read the whole story from WSJ: http://online.wsj.com/article/SB10001424052702304066504576343611464445594.html
at 6:07 PM