Quote:
Originally Posted by Professor S
3) Regardless of tax rate, revenues have remained relatively stable as a percentage of GDP over the long term. The correct tax policy is the one that promote growth, not increase marginal rates. More money taxed = more money hidden from the economy. At best rich people are smarter than the IRS and put money in tax shelters. At worst they simply buy your favorite politician so tax laws don't affect them.
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This point can't be overstated... it's hardly ever addressed in the mainstream media.