From Zero Hedge:
As usual, UBS' Art Cashin, who may suffer the occasional pint but never outright idiocy, cuts right to the chase. His bottom line:
"According to the Tax Foundation, after the 1929 crash, Congress proceeded to raise the top marginal tax rate from 25% to 63% by the end of Hoover’s term... As you may recall, hiking those rates may have made folks feel that rates were more equitable but it sure didn’t help the economy."
The Millionaire's Tax - Three Observations - The expected proposal by the President to tax annual income above a million dollars may be too cute by half. It clearly looks like a "populist" initiative and clever political maneuver. By setting the threshold at $1,000,000 it boxes out...
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