One of the most bitterly resented policies of the Reagan administration
were tax-rate reductions referred to as "tax cuts for the rich," even
though (1) tax rates in general were cut, (2) the government's tax
*receipts* rose after the rates were cut and incomes rose, and (3) the
upper-income brackets not only paid more total taxes than before, but even
a higher percentage of all taxes. What was intolerable to critics was
that "the rich" were able to pay these greater sums in taxes as a smaller
percentage of their rising incomes. -- Thomas Sowell, "The Quest
for Cosmic Justice"
No comments:
Post a Comment