Subj : INCOME INEQUALITY
To   : TOM WALKER
From : BOB KLAHN
Date : Thu Oct 09 2014 12:53 am


 ...

 TW> FDR tries that in the 30's and it weas a DISMAL FAILURE.
 TW> In fact the TAX revenue Dropped.

 Tom, when in the 30s? It was a depression.

 TW> Compair this socialist trick with JFK and Reagan LOWERING
 TW> the tax bracket which resulted in an INCREASE in the IRS
 TW> revenue.

 Reagan cut taxes and the debt tripled. Bush I waited too long to
 end Reaganominics and that tripled turned into quadrupled.

 Reagan increased taxes and revenue increased, Bush I increased
 taxes and revenue increased, Clinton increased taxes and revenue
 increased. Obama increased taxes and we had the faste drop in
 deficit this country has seen in probably a generation.

 The only time in the history of this country when a president
 got taxes cut and it can be actually shown was JFK, who cut
 taxes from 90somthing % to 70something%.

 If you ever look at the Laffer curve, really look at it,
 understand the most important thing. It is a standard curve,
 where both the upper end and the lower end result in lower
 revenue. If you look at it the peak is about 50% peak income
 tax. Other economists have verified that. Which is why JFK's
 cuts worked.

 Reagan cut them to the 40% range. The only reason revenue
 increased was the economy grew, the same reason revenue grew
 most of the time. That 40% is below the peak revenue marker.
 Today it's even lower thanks to GW Bush.

 Much of the distortion of our economy is from tax cuts aimed at
 the rich.

 BTW, I was looking the other day at some other economic stats,
 and ran across a detail of interest. Just before the Great
 Depression began we had a run up in income inequality. The rich
 started getting all the gains. Look at what is happening now.



BOB KLAHN bob.klahn@sev.org   http://home.toltbbs.com/bobklahn

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