For all of you frothing at the mouth liberals......

Higher tax rates will lead to reductions in income. This means that the nation WILL EARN LESS. The savers and earners WILL INVEST LESS. Nominal GDP WILL BE LOWER. Taxes collected by the government on lower income WILL BE LESS.....

The Harm from High Marginal Tax Rates

As I explained in two previous Outlooks, high marginal tax rates are harmful because they pose a disincentive to earning taxable income.[6] Because the marginal tax rate is the additional tax liability that arises from earning an additional dollar of income, it directly governs the incentive to earn that additional dollar.

The nonsense coming out of Washington is stunning in its stupidity.

Read the rest of the story by clicking the link below.....

AEI - The High-Income Rate Reductions