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Tuesday, January 13, 2009

Something the repugicans don't want you to know

The US economy has grown when the rich were taxed the heaviest. In fact the most growth in our economic history has occurred when the rich are made to pay their taxes ...
"US economic growth has been strongest when our taxes have been high. During World War II, then under Truman, Eisenhower, and Kennedy, our upper marginal tax rates were between 88-92%. Read those numbers again. They are astonishingly high. Those were our strongest growth years. ... Tax hikes usually correspond to higher government spending. Government spends money on things that the private sector does not spend money on: physical infrastructure, social infrastructure, market infrastructure, and defense. These are the things that create a world in which doing business is possible. The worse those things are, the worse business is. The better they are, the better business is."
~ Larry Beinhart
Read the rest at AlterNet.

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