So rightwing that I broke the Political Compass!
Rockingham
Jr. Member
Posts: 547
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« on: July 27, 2012, 10:08:19 PM » |
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The assumption that investment means jobs is out of date- much investment nowadays is in machines so that a business can shrug off the cost of employees. Not to mention outsourcing. And FYI such investment would be best facilitated by reducing corporate taxes, not capital gains taxes(the latter is only paid at the point of withdrawal after all, while corporate taxes are paid for the entirety of an investments duration)
Senator Scott: Taxes were nowhere near as high as the 90% headline rate makes them seem. Taxation as a percentage of GDP in that period ranged from 14.4% to 20.4%(the variation having more to do with typical economic turbulence then with policy). In the past decade they've ranged from 15.4% to 19.5%... almost exactly the same.
(source:http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=205)
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