Message Font: Serif | Sans-Serif
No. of Recommendations: 1
"top tax rates were far in excess of what they are now.""

Yep, and folks bought municipal tax free bonds by the gazillons...

and new things like real estate Starker Trades, where you pay no taxes as you take depreciated real estate and trade it for another piece of property and then start depreciation all over again...generating bazillions in tax deductions.

You seem to forget the gov't never manages to collect more than about 18% of GDP in matter what the tax rates are.

However, the higher the tax rates, usually the worse the economy long time. Folks just aren't excited about risking money in ventures when they know they will be 'gored' by the feds.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.