Whisper081
New member
- Oct 18, 2008
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President Clinton, Bush, Carter and Hoover where all wrong to raise taxes. It stopped Job Growth and less tax dollars were collected.
Senator Obama wants to repeat this. Senator Mc Cain doesn't and as you can see by this article the rich paid 6x more in taxes when the tax rates were low than they have would with high taxes.
And that is because lower taxes equals more collected revenue and more jobs.
This document shows that Senator Mc Cain is correct and Senator Obama is wrong. Below is the last part of the document which sums up the argument. Please free to read the whole document by clicking on the below link.
Mc Cain has learned the lessons of our past and Obama Has Not. This is why so many will vote for Mc Cain - he get's it!
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http://www.heritage.org/Research/Taxes/bg998.cfm
August 10, 1994
The Administration should have anticipated that higher income tax rates would be associated with slower income tax collections. In the 1980s, when tax rates were slashed, income tax collections soared, and the share of taxes paid by the rich rose 6 X Out of step with world trends In an in global econ- omy, changes in domestic policies can have a'signifi cant impact on interna tional competi tiveness. Dur ing the 1980s policy makers in the U.S. understood and tage of this phenomenon, cutting tax rates and en couraging a surge in job creasingly took advan Chart 6 U.S. Is Out of Step Wlth World-Wlde Reduction In Tax Rates Source: Congrraional ReseMh Service creating foreign investment in America. In recent years, other countries have followed the U.S. example, lowering their tax rates, oftentimes dramatically. Tragically, U.S politicians seem to have forgotten the lessons of the 1980s. As seen in Chart 6, the United States has been raising tax rates during a period when most other nations are doing just the opposite CONCLUSION Policies that did not work for Herbert Hoover, Jimmy Carter, and George Bush are not working any better for Bill Clinton. The economy's weak performance, the dismal job creation numbers, and projections of higher spending and deficits are the inevitable results of a fiscal policy based on this flawed model. Critics maintained that the 1993 tax hike would harm the prospects for a solid recovery, not enhance them.
Lurkain : OK if the Bush's tax cuts are gone everyones tax rates go up.
War Kittens:
The rich pay taxes regardless. They pay more taxes when the tax rate is low. They create more jobs which turn into more taxes.
Senator Obama wants to repeat this. Senator Mc Cain doesn't and as you can see by this article the rich paid 6x more in taxes when the tax rates were low than they have would with high taxes.
And that is because lower taxes equals more collected revenue and more jobs.
This document shows that Senator Mc Cain is correct and Senator Obama is wrong. Below is the last part of the document which sums up the argument. Please free to read the whole document by clicking on the below link.
Mc Cain has learned the lessons of our past and Obama Has Not. This is why so many will vote for Mc Cain - he get's it!
___________________________________________________
http://www.heritage.org/Research/Taxes/bg998.cfm
August 10, 1994
The Administration should have anticipated that higher income tax rates would be associated with slower income tax collections. In the 1980s, when tax rates were slashed, income tax collections soared, and the share of taxes paid by the rich rose 6 X Out of step with world trends In an in global econ- omy, changes in domestic policies can have a'signifi cant impact on interna tional competi tiveness. Dur ing the 1980s policy makers in the U.S. understood and tage of this phenomenon, cutting tax rates and en couraging a surge in job creasingly took advan Chart 6 U.S. Is Out of Step Wlth World-Wlde Reduction In Tax Rates Source: Congrraional ReseMh Service creating foreign investment in America. In recent years, other countries have followed the U.S. example, lowering their tax rates, oftentimes dramatically. Tragically, U.S politicians seem to have forgotten the lessons of the 1980s. As seen in Chart 6, the United States has been raising tax rates during a period when most other nations are doing just the opposite CONCLUSION Policies that did not work for Herbert Hoover, Jimmy Carter, and George Bush are not working any better for Bill Clinton. The economy's weak performance, the dismal job creation numbers, and projections of higher spending and deficits are the inevitable results of a fiscal policy based on this flawed model. Critics maintained that the 1993 tax hike would harm the prospects for a solid recovery, not enhance them.
Lurkain : OK if the Bush's tax cuts are gone everyones tax rates go up.
War Kittens:
The rich pay taxes regardless. They pay more taxes when the tax rate is low. They create more jobs which turn into more taxes.