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Originally Posted by Eric5273
When JFK was president, the top income tax bracket was 91%. When Nixon was elected, being such a big conservative, he lowered it to 77%.
Obama is talking about raising it to 39.6%. How times have changed. I think the term "high taxes" does not mean what it once did.
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LOL...You just made my argument Eric. Back when JFK and Nixon were president there were a LOT less people with money to tax. Since the top tax rate was lowered America added millions more to the ranks of wealthy and in fact the Federal Government was able to collect more cash with a lower tax rate. Jobs were created and wealth flowed.
You're idea of transferring more wealth to the government will only strangle the economy more than it already has.