- Joined
- Aug 9, 2010
- Location
- Coral Springs, Florida
Here is a link to an article on MSN that gives a pretty interesting look at the history of the income tax. http://money.msn.com/taxes/todays-taxes-lowest-in-60-years.aspx
I would have posted the story directly but it is 2 pages and I couldn't quite get it to paste correctly.
After reading the article it sort of makes you wonder if income taxes are really the issue plauging the economy. Maybe its all the other taxes and fees at the state and local level and the costs of regulation compliance that are really putting a dent in our pocketbook. If that is indeed the case then one has to wonder how much of an impact a lower federal rate is going to help the economy if we can't control all the other fees, charges and costs at various other levels. I also found it interesting that the current Iraq and Afghanistan wars were the only time in history the country lowered the tax rates while going to war. Usually when the country heads to war there are plenty of jobs given the need to produce supplies, ammunition, equipment etc. Was alot of this stuff outsourced or is the nature of this war different that it did not require such huge industrial manufacturing? Its just hard to be optimistic these days.
I would have posted the story directly but it is 2 pages and I couldn't quite get it to paste correctly.
After reading the article it sort of makes you wonder if income taxes are really the issue plauging the economy. Maybe its all the other taxes and fees at the state and local level and the costs of regulation compliance that are really putting a dent in our pocketbook. If that is indeed the case then one has to wonder how much of an impact a lower federal rate is going to help the economy if we can't control all the other fees, charges and costs at various other levels. I also found it interesting that the current Iraq and Afghanistan wars were the only time in history the country lowered the tax rates while going to war. Usually when the country heads to war there are plenty of jobs given the need to produce supplies, ammunition, equipment etc. Was alot of this stuff outsourced or is the nature of this war different that it did not require such huge industrial manufacturing? Its just hard to be optimistic these days.