When the top marginal rate was 91%, it affected a minuscule percentage of the people that the top rate of 35% affected, so it's not an effective comparison.I think the stimulus was mis-spent and I have several other issues with the man.
Yes, I think Obama and Bush were wrong. There's nothing wrong with short-term stimulus, it can help out in a downturn. But it doesn't have long-term impact. It never has and it never will. That's why you'll find studies that show the top marginal tax rate has nothing to do with GDP growth or income rates. It's why our economy boomed when there was top marginal tax rate of 91%, and didn't do so well under Bush's 35% top marginal rate.
And that's certainly one argument, but just saying it doesn't prove it.A slight increase on the top marginal rate - reverting to the Clinton rate up top - WITH incentives for businesses to hire - wouldn't significantly alter the economic universe and would be part of cutting the deficit, along with matching spending cuts.