(no subject)
Oh, look... Oil companies are among the most heavily taxed of the largest businesses in America.
CLEARLY we need a special tax to go after their "windfall profits."
And while I'm bitching about the fallacies of one part of the political spectrum, allow me to bitch about the fallacies of another part:
During the period of by far the greatest economic growth in America's history (the 1930s through the 50s or 60s), the top marginal tax rate was something on the order of 80% to 90%. The idea that heavier taxes on higher wage earners will lead to economic disaster is simply not borne out by available evidence. Note that I am not arguing that high marginal tax rates drive growth, only that low marginal tax rates are clearly not required for it.
CLEARLY we need a special tax to go after their "windfall profits."
And while I'm bitching about the fallacies of one part of the political spectrum, allow me to bitch about the fallacies of another part:
During the period of by far the greatest economic growth in America's history (the 1930s through the 50s or 60s), the top marginal tax rate was something on the order of 80% to 90%. The idea that heavier taxes on higher wage earners will lead to economic disaster is simply not borne out by available evidence. Note that I am not arguing that high marginal tax rates drive growth, only that low marginal tax rates are clearly not required for it.