tag:blogger.com,1999:blog-4900303239154048192.post8094629760613383373..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Economic Illiterate: Fred Barnes v. Barack ObamaUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4900303239154048192.post-74343929053946582912009-07-27T22:05:50.500-04:002009-07-27T22:05:50.500-04:00What question? The question has been answered. T...What question? The question has been answered. The facts speak:<br /><br />From http://www.taxfoundation.org/files/federalindividualratehistory-200901021.pdf<br /> <br />Married Filing Jointly <br />Tax Rate Over But Not Over <br />1992<br />15.0% $0 $35,800 <br />28.0% $35,800 $86,500<br />31.0% $86,500 - <br /><br />1993<br />15.0% $0 $43,050 <br />28.0% $43,050 $104,050 <br />31.0% $104,050 $158,550 <br />36.0% $158,550 $283,150 <br />39.6% $283,150 -<br /><br />2001<br />10.0% $0 $12,000 <br />15.0% $12,000 $46,700 <br />27.0% $46,700 $112,850 <br />30.0% $112,850 $171,950 <br />35.0% $171,950 $307,050 <br />38.6% $307,050 - <br /><br />In 1993 the Democratic Congress raised taxes by 28% on top income recipients from 31% to 39.6%<br /><br />The GDP <a href="http://www.greatervoice.org/econ/data/gdp/Bea-gdp.html" rel="nofollow">never went negative</a> in any quarter theafter until 2001 even though the Fed <a href="http://www.greatervoice.org/econ/data/yields.html" rel="nofollow">jacked interest rates</a> from 4.5% in 93 to 8% in 94 helping to remove the Democrats from the congress. The monetary action was instrumental in flattening GDP growth but it did not cause a recession.<br /><br />The additional tax revenue allowed <a href="http://www.greatervoice.org/econ/data/OnBudget.html" rel="nofollow">deficit reduction</a>and in 2000 there was actually a reduction in <a href="http://oregonstate.edu/cla/polisci/faculty-research/sahr/ntdt.htm" rel="nofollow">real debt</a>.<br /><br />This factual data tells us that heavier taxation of <i><b>ECONOMIC_RENT/PRODUCER_SURPLUS/UNEARNED_INCOME</b></i> does not hamper real economic growth assuming the proceeds of the tax are NOT used for military spending or as handouts to cronies.TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-18689551880235887352009-07-27T11:05:05.775-04:002009-07-27T11:05:05.775-04:00The question would be, what share of total investm...The question would be, what share of total investment comes from people who will see their taxes rise in 2011.wellbasicallynoreply@blogger.com