The Unfolding Tragedy In Turkey Underscores Preeminence of…

The Unfolding Tragedy In Turkey Underscores Preeminence of...

In the 1950s the top federal tax rate on individual earners in the U.S. exceeded 90%. The number is eye-catching to say the least, but it’s also a bit misleading.

As low-tax advocates Brian Domitrovic and Larry Kudlow reported in their 2016 book JFK and the Reagan Revolution, the actual tax rate for America’s richest was quite a bit lower. More in the 20 to 30% range. Still way too high, but much lower than the headline rate.

It’s something to think about. To some degree politicians raise taxes in order to lower them. At the very least, this is the logical outcome. As Domitrovic has acknowledged in direct conversation, lobbying shops in Washington, D.C. have a Laffer Curve quality to them, only in reverse. The higher headline rates of taxation go, the greater the number of lobbyists working to…

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