« Taxpayer funding that builds and restores mosques overseas may violate law | President Obama: Brought to you by GE »
August 11, 2010
Graph of the Day for August 11, 2010
"Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle-workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit-why reducing taxes is the best way open to us to increase revenues." President John F. Kennedy, January 1963
Source: Arthur Laffer, in The Wall Street Journal, August 2, 2010.
Hoven's Index for August 11, 2010
Selected historical highest marginal income tax rates:
1952: 92%
1964: 70%
1982: 50%
1988: 28%
1990: 31%
1993: 39.6%
2003: 35%
Source: Tax Policy Center.
Graph of the Day Archive.
To comment on this or any other American Thinker article or blog, you must be a subscriber to our ad-free service. Login to your subscription to access the comments section. You can subscribe on a monthly basis for $6.79 a month or for a year at $69.99
Login
Subscribe / Change PwdAd Free / Commenting Login
FOLLOW US ON
Recent Articles
- No, Trump Does Not Have to Abide by a Mythical 'Judicial Supremacy'
- Rush Was Right About Illegal Immigration
- The President's Trap
- Theories of Knowledge and the Media
- Tucker Carlson Needs Help
- Gaza Gaza Gaza
- Is Stargate a Gateway to the Digital Gulag?
- After USAID, America Will Never Be the Same
- The Debt Ceiling: Trump's Next Target?
- Trump FTC Must Stop Biden’s Prescription Drug Madness
Blog Posts
- Finding value that others ignore is Donald Trump’s superpower
- Ronald Reagan Washington National Airport: Where Convenience Trumps Safety
- City council of Worcester, MA votes to become an LGBTQ++ ‘sanctuary city’
- ‘Green’ politician vying for Germany’s chancellorship makes a ridiculous spectacle trying to christen a new ship with ‘safe’ contraption
- How much power does Elon Musk have?
- When it takes 12 days to get your mail...
- Are the Gazans tired of winning yet?
- Melting down over DOGE
- Massive fraud is exposed by Musk and Trump and the left is furiously melting down! Does this not reveal their consciousness of guilt?
- Our Conservative Climate Caucus
- Will POTUS be happy with SCOTUS?
- Why do we treat murdering a pregnant woman differently from abortion?
- Learning about Abe
- Liz Cheney’s never-ending farewell tour: now featuring JD Vance
- Does President Trump have to come over there to Los Angeles, again?