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Kurt Ullman

In article ,
wrote:

On Sun, 30 Oct 2011 16:53:43 -0400, Kurt Ullman
wrote:

I also thought it was sorta interesting that they all of a
sudden went from effective tax rates to marginal tax rates when talking
about 90% tax rates. Indeed the two were mixed together in consecutive
sentences in the same para go make it sound like the EFFECTIVE rate went
from 90% to 16%. They also failed to mention that the first major cut,
1/3 from 90% to 70% was under JFK.

The other massive cut was under Reagan but people ignore the fact that
these cuts came along with the elimination of a lot of tax shelters
and made a lot of corporate perks taxable.
It would really be interesting if we could see HL Hunt's tax return
from the 60s and compare it to how much he actually made.

In this case, the JFK case and under Bush (also for Clinton's more
focussed cap gains cut) the revenues actually went up. Tax revenues
climbed from $94 billion in 1961 to $153 billion in 1968, an increase of
62 percent (33 percent after adjusting for inflation). Total tax
revenues climbed by 99.4 percent during the 1980s, and the results are
even more impressive when looking at what happened to personal income
tax revenues. Once the economy received an unambiguous tax cut in
January 1983, income tax revenues climbed dramatically, increasing by
more than 54 percent by 1989 (28 percent after adjusting for inflation).

--
People thought cybersex was a safe alternative,
until patients started presenting with sexually
acquired carpal tunnel syndrome.-Howard Berkowitz