--- In FairfieldLife@yahoogroups.com, "sparaig" <[EMAIL PROTECTED]> wrote: > > --- In FairfieldLife@yahoogroups.com, [EMAIL PROTECTED] wrote: > > > > > > In a message dated 11/30/05 12:02:42 P.M. Central Standard Time, > > [EMAIL PROTECTED] writes: > > > > You still haven't proven it. You didn't even prove it for JFK and > > Reagan, whose tax cuts were far greater, percentage-wise, than > > Bush's. Also, over what time-period were these previous tax cuts > > sucessful? > > > > > > > > > > _The "Secret" JFK Tax Cuts_ > > (http://209.157.64.200/focus/f-news/911868/posts) This might > answer some of your questions > > > > "Apparently, it's fine for a Democratic President to push for tax > cuts that will spur economic growth, but not for a Republican like > Ronald Reagan, and now George W. Bush. To say that JFK's tax cut was > any different is a blatant lie. In a way, Kennedy's tax cut could > have benefited the rich even more. Any tax cut from rates as high as > over 90% will have a much larger impact than a tax cut on tax rates > from 20 through 50%. > > Bush only plans to reduce the top income tax rate from 39.6 to 33%. > Kennedy cut taxes for the rich by one-third. Bush's income tax cut is > only a one-sixth reduction. Additionally, Bush's tax cut would return > less than 7 cents on each dollar earned, whereas Kennedy's tax cut > returned 26 cents on each dollar. These are facts conveniently left > out by Ted Kennedy and other Democrats - that Kennedy too drastically > cut taxes for the rich, and that Reagan's tax cuts were across-the- > board and caused tax revenue to increase. The evil Republicans' tax > cuts even propose an end to the marriage penalty tax and the tax on > Social Security benefits! > " > > > > So, Bush's tax cut of about 10% on the highest wage earners has had > the same impact as Kennedy's tax-cut of 30%? > > I agree that 94% is too high a tax rate. But what is NOT too high a > tax rate? 10%? 20%? Etc?
I'd say the top federal income tax rate should be 15%. But remember: on top of the income tax there is the FICA (or payroll) tax, which is 15.3% if you're self-employed and 1/2 of that if you are employed (your employer picks up the other half). This 15.3% is paid for the first approximately $80,000 of adjusted gross income. > > Does the term "point of diminishing returns" mean anything to you? > ------------------------ Yahoo! Groups Sponsor --------------------~--> Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
