Stephen King on American Taxes

[mediamogul]

Higher taxes create jobs. You raise taxes, the cheap asses re-invest their monies into their businesses to avoid the tax and grow instead. Didn't anyone pay attention to why the economy grew and unemployment shrunk under Clinton? Under his Presidency the rising taxes bought about 23 million jobs. Bush walked into an economy with a $250bn surplus, cut taxes massively put the country into deficit and had a recession. Why do the right wingers not acknowledge this. Oh, because the CEO's who donate to them want to pay themselves more, because lining your own pockets is all that matters to the fruitloops.

Excellent point. Tax rates on the rich during our nation's greatest period of economic prosperity approached 70% or higher on every dollar made over a million. This was post New Deal when government spending also increased in response to the war effort. Unemployment became effectively 0% and not top mention that this is the time when most of the nations infrastructure was built incluing schools, highways, suburbs etc... I think that the biggest flaw in Obama's stimulus was that he didn't spend enough to truly kick start the economy. In the short term it leads to more debt but with responsible tax rates, particularly on the rich, the debt is something that can be spent down. Bush decided to wage a useless war on falsified intelligence while cutting taxes for the wealthy and signing Medicare Part D into effect. The result: 6 trillion in debt, a quagmire in the Middle East and a housing bubble that burst causing what was damn near another Great Depression. Reaganomics does not work!