Message:

<p>[QUOTE=&quot;medoraman, post: 976847, member: 26302&quot;]Where to start, well our GDP skyrocketed after Reagan put into place his tax policies, so our standard of living overall went up. You look back at Carter and Ford years fondly? You are one of the few. We are richer than we ever were, (until recently), though you may not have received it, overall our country has.</p><p><br /></p><p>The yachting industry went down in this country because of the tax placed on them to obstensibly raise money, but to really &quot;punish&quot; people rich enough to own yachts. The ones suffering are the working class who used to build them. Taxes destroy, or at least most taxes. I agree infrastructure can create wealth, defense is a necessary evil, (though we overdo it), and some regulation is helpful. I would argue, though, that 80% of government spending is harmful to the economy, taking away the ability of citizens to create real economic prosperity.</p><p><br /></p><p>The lack of a 90% tax rate means that there is capital around to fund new companies, new jobs, etc. Government anywhere is a horrible allocator of resources, private industry does it much better. The Soviet Union proved that, as does Cuba, Nazi Germany, Venezuela, etc etc.</p><p><br /></p><p>Low tax rate? That is complete rubbish. When you consider Federal, State, excise taxes, estate taxes, (coming back next year), fees, sales taxes, property taxes, payroll taxes, the average American only keeps less than 1/3rd of his pay. We are as high as almost any country on earth. When you here of a tax rate of 60% in a foreign country, that is because that is the only tax levied. If you think that is low, then how much higher should they go? 100%? Many politicians would love to take your whole check and then make you beg them for food and shelter, since then THEY get to pick the winners and losers. The richer Americans keep even less, leaving less capital to form new companies and create real jobs, not political cronyism.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in