So Reagan cut the tax rate from 70% to 28%. And people wonder why our deficit is so huge.
Post(s) tagged with "tax"
“A group of two dozen millionaires stormed Capitol Hill on Wednesday, demanding lawmakers raise their taxes.
‘We want to pay more taxes,’ said California millionaire Doug Edwards, a former marketing director for Google. ’If you’re fortunate, and you make more than a million dollars a year, you ought to pay more taxes.’
The millionaires want Congress to allow the tax cuts passed during the George W. Bush administration to expire. Some want higher taxes generally.
They planned to push lawmakers to reject any deal that the so-called super committee delivers that doesn’t raise taxes on millionaires. The 12-lawmaker panel has until next Wednesday to agree on $1.2 trillion in savings over the next 10 years or risk automatic spending cuts.”