Hell, that's one guy I'd consider voting for for president!
Bet some idiot like Cantor and DeMint slaps him down. On the other hand, this was certainly screened by McConnell and is probably part of what the Republicans plan to "give" in tax code revisions in the budget talks. If they can get enough from those poor millionaires collecting unemployment maybe they can make a case to keep the top rate at 35%. We'll see.
1) I don't think much of Kennedy.
2) Kennedy actually increased taxes.
You would know this if you bother to look at the facts. When the top marginal rate was 91%, Kennedy worked a compromise with the Republicans to lower it to 70%, while closing loopholes. The EFFECTIVE tax rate went from 63% to 67-70%.
It's also no surprise that revenues increased. Not only did the effective tax rate increase, but the economy was growing faster then at any other time in the 20th century.
Kennedy dropped the top tax rate over 20% AND the economy heated and produced more revenues, proving it is stimulating the economy by decreasing top tax rates that really works!!!
Thanks for having my back on this one Willy!!!
...but you know what effective tax rates are, right?
I know what effective rates are but I also know the power of perception. A 90% plus tax rate is in your face taxation. Cutting tax breaks will not be so noticeable.
You see Willy, the economy is much more complex than "tax the rich"