Friday, February 27, 2009

Taxation without . . .

I’m no tax scholar, but this graph certainly seems to contradict the notion that we have to cut taxes to get out of a recession. Taken from this web page, I’ve added black lines to form eight columns to show major recessions during the time the graph covers. The graph shows that only three times have top marginal taxes gone down during a recession. Otherwise they have either increased or remained stable (during the Great Depression, the top marginal tax rate went up to 80%). So if prosperity has followed the majority of recessions with tax increases or tax stability before, why shouldn’t it now? Because a Democrat is proposing the increases? Really??????
P.S. Click on the graph for a clearer view.

No comments: