Higher Taxes
A principle of conservative economics is that higher taxes are in opposition to job creation. This is what people want to hear. Everybody wants lower taxes. But the facts show the opposite is true. From 1946 to 1964 the top federal income tax rate was 91%. The average unemployment rate for those years was 4.8%.
Now that we have this job-creating tax rate of 31%, unemployment is way up to 7.6%. Those advocates for reducing taxes on the rich should explain the disparity in the figures.
MELVIN SHAPIRO
San Diego
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