Historically we've had much higher taxes, especially in the '50s and '60s, and our economy was growing at a faster rate then than it is now. We raised taxes in the '90s and it grew faster than in the '80s, when we cut taxes.
I know the information economy has something to do with it, but IT was possible because we had an overall strong economy.|||the theory is the more money people have that they aren't giving in taxes, the more they'll have to invest in the economy. but the tax laws are written in such a way that the rich are able to use loophole after loophole with the poor and middle class putting up the rest of the cash the rich would have normally paid.
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