I hear the Liberals/Democrats say higher taxes on the Rich won't hurt the economy.

[mikejohnson2006]

I hear the Liberals/Progressives/Democrats say higher taxes on the Rich won't hurt the economy after all they say the economy was good in the 1950's 1960's and for some of the 1970's and in the 1990's when we has tax rates of 90% and later 70% then 39.6% on the Rich but did the Rich really pay taxes at this high rate or did they have all kinds of tax loopholes and Swiss offshore bank accounts to hide their wealth in and other ways like Trusts/Foundations therefor the higher taxes did not matter ?

http://www.huppi.com/kangaroo/L-taxgrowth.htm

[brushfire]

The same people will use "Cap and Trade" as a means to limit emissions, by taxing emissions... They know damn well that taxes will negatively impact economic growth. Dont let them blow smoke up your keyster...

[Acala]

I hear the Liberals/Progressives/Democrats say higher taxes on the Rich won't hurt the economy after all they say the economy was good in the 1950's 1960's and for some of the 1970's and in the 1990's when we has tax rates of 90% and later 70% then 39.6% on the Rich but did the Rich really pay taxes at this high rate or did they have all kinds of tax loopholes and Swiss offshore bank accounts to hide their wealth in and other ways like Trusts/Foundations therefor the higher taxes did not matter ?

http://www.huppi.com/kangaroo/L-taxgrowth.htm

First of all, increasing taxes on the rich will not solve our problems. There is simply no way you can extract a trillion dollars more a year from the sectors of the economy that are already paying the lion's share of taxes.

Second, there are many economic variables of more importance than tax rates at work during those time periods so it is generally not possible to say that the economic activity at any given time was due to any particular factor. For example, one could just as easily point out that the tax rates now are about the same as they were six years ago but the economic situation is a bit different, isn't it? Obviously things are at work other than tax rates.

[gls]

I'd support re-instituting 1950s tax rates on the condition that the government reverts back to the size it was in the 1950s, lol