Quote:
Originally Posted by JPhillips
Is that supposed to be some sort of a zinger? Of course there was speculation that led to bubbles. It is, though, dishonest not to admit that there were real gains in the economy. Arguing how the strong the economy was/wasn't isn't the point, though. The point is that there's no reason to believe that returning the top income tax rate to the Clinton rate will wreck the economy.
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The Clinton economic era was rare in it produce the tech boom and cheap money. I don't expect us to return the type of stock and real estate gains of that era or in the before-the-housing/credit meltdown era.
The top 1% pay about 40% of federal income taxes as it is, with the top 5% paying around 60% of all federal income taxes. The bottom 50% of taxpayers pay 2.99%.
http://www.house.gov/jec/news/2008/July/pr110-45.pdf
When is it enough?