Uncle Sam not Santa Claus
To the Editor:
Re: “Astonishing Greed” (7/27) Powell implies our current disparity in income and state of the economy is due to Bush tax cuts. Russell “Services Stimulate” (8/1) implies the same, adding public employees did not cause the problem, so they shouldn’t suffer.
In fact, the largest tax cut was for incomes less than $17,400, a 30 percent reduction (15 percent to 10 percent). The reduction on the high end was 11.4 percent. The reduction in the lower bracket reduced tax receipts far more. Also it is common knowledge: High marginal taxes rarely increase revenues.
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