If the government had taxed the rich fairly (even with the Reagan percentage rates), the government could have used that extra income to create jobs like putting the out of work construction workers to work building infrastructure.
(Also, the money that is spent to invest in our national or local infrastructure goes directly to private companies most of the time. )
Under President Reagan the top tax rate was 50%. The wealthy were only keeping 50% of their profits and income, yet the economy grew. TODAY the wealthy are keeping 65% of their profits and income, 15% more than under President Reagan, yet the economy is NOT growing.
This is because the supply side economic policies simply do not work.
No comments:
Post a Comment