In article ,
Mark & Juanita wrote:


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You assume this is a zero-sum game. i.e. if less money is taken from the
taxpayers, then less is available in the future for the government. The
tax cuts enacted in the early '80s show the fallacy of this argument.

No they don't.

The
top tax rate was cut from 50% to 28% which should have resulted in a
devastating loss of revenue for the tax coffers.

And it did.

What happened in reality
was that the money not taken from taxpayers was either spent or re-invested
in the economy in revenue producing ventures. Those revenue producing
ventures produced increased tax revenue that far exceeded the amount "lost"
by the tax cuts.

Myth, not fact. Look here for the facts:
http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0.

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As a percentage, the tax cuts benefited all taxpayers equally. The fact
of the matter is that in 2001 (the latest data for which IRS figures are
available):
The top 50% of wage earners pay 96% of all federal income taxes yet
only earns 86% of all income

This statistic only looks convincing until you realize that they leave
out almost half of the taxes on incomes. They are leaving out Social
Security/FICA.

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Chris
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