Today...No... this country was created by trickle down. Liberty. Low taxation. Freedom from government oppression. Before Reagan came in the world was talking about American demise, in terms worse than today. Stagflation was a common term... double digit inflation and interest rates. The Misery Index was a common term too.
Strange headline for the NY Times... but read the text...
Or this:America's Not Weak
June 05, 1980
SAN ANTONIO--Maybe it is just Presidential fever that is imposing a national inferiority complex on this country. We are barraged daily by declarations of our national weakness and impending demise.
Thanks to Reagan we had 28-years of tremendous growth... but entitlements, Freddie & Fannie... socialist government intrusion is burdening the nation.
Thise who fail to learn history are bound to repeat it... or at least come across as an ignoramus.Bush tried it by lowering taxes in 2003. Since then, the US economy has been struggling (partly also because of Bush's terrible immigration policies, now being continued, if not worsened, by Obama).
Fact is... when there is low unemployment, businesses compete for workers, people pay more in taxes to the government at lower rates, the government has to pay less out, AND there become jobs that Americans won't do!!! Assisting neighboring economies run by corrupt governments.Simple fact is, when you put money in poor people's hands (the Have-Nots), they go to the stores (AKA the economy) and buy all the things that they "Have-Not", stimulating the economy. That's what happens when taxes are (as you call it), "punitive".
People will look to move companies and hide wealth when the government is oppressive. When it's not oppressive, doesn't punish the wealthy... you get more activity.You put money into rich people's hands (the Haves), and they don't go to the stores to buy all the things they already "Have". In addition, when rich people do spend their money, they spend a much higher % of it OUTSIDE the country, where it does no good to the country's economy, and in fact, worsens it by removing cash from it. Great for Europe and the Caribbean, huh ?
Why do governments tax smokes and spirits at high rates? To discourage the activity. The same goes when you try to sock it to the bright folks with money. In fact, many will pay $2.00 to avoid paying $1.00 in taxes.
Did you miss what happened when people try to sock it to the wealthy? The folks down the line get screwed. Any time you hear the government say they want to help, or assist you... replace "help" or "assist" with screw, and you have an accurate picture of the end result.