Tuesday, November 16, 2010

Notable and quoteable

I did not write that man is inherently evil. I wrote that he is not basically good. And, yes, that does make the world sad. So do disease, earthquakes, death and all the unjust suffering in the world. But sad facts remain facts. A distinguishing characteristic of liberals and leftists,” … “is their aversion to acknowledging sad facts.” – Dennis Prager

In 1920, when the top tax rate was 73 percent, for people making over $100,000 a year, the federal government collected just over $700 million in income taxes — and 30 percent of that was paid by people making over $100,000. After a series of tax cuts brought the top rate down to 24 percent, the federal government collected more than a billion dollars in income-tax revenue — and people making over $100,000 a year now paid 65 percent of the taxes.-Thomas Sowell

People behave differently when tax rates are high as compared with when they are low. With low tax rates, they take their money out of tax shelters and put it to work in the economy, benefiting themselves, the economy, and government, which collects more money in taxes because incomes rise. High tax rates that very few people are actually paying because of tax shelters do not bring in as much revenue as lower tax rates that people are paying.- Thomas Sowell

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