Friday, January 6, 2012

Jobs and Taxes

Jobs and Taxes In 1980, the top marginal tax rate was 70%. In 1981, it dropped to 69.3% and from 82-86 it was 50%. During this period of time more jobs were created than at any time in the history of the country. These rates did not seem to inhibit the job creators. It was also during this time that the Koch brothers father accumulated the wealth he passed on in the for of inheritance to his sons. That wealth is being used to spread lies that high taxes are necessarily evil. Sam Walton grew his empire during that time as well. Apparently what was good for the father is no longer good for the children. In 1987 marginal tax rates dropped to 38.5% and in 1988-89 they were lowered to 28%. 90-92 saw them raised back to 31% and 1993-2000 again raised to 39.6% and the result was a budget surplus. In 2001-02 38.6% the rates were again lowered to and finally, in 2003-11 35% when the deficit went through the roof. To make matters worse, there are 25 million under employed or unemployed who have been removed from the tax rolls. 47% of tax filers are either at or below the poverty level. If the job creators need low taxes to create jobs, WHERE ARE THE JOBS?

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