killthecat
...when the tax rates were higher, there were more deductions and the effective tax rates remained about the same. It's the effective tax rates that is important. Why is it important ya ask? Let me "splain". Ronald Reagan's tax cut was not a cut so much as it was a tax simplification plan. The tax rates were "reduced" but deductions were changed dramatically. The second biggest tax increase I have ever experienced in my entire life was "The Reagan Tax Cut". This same reduction in rates and elimination of deductions was responsible for the increases in government revenue regardless of what Limbaugh, Hannity and Colter say.
Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!
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