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  1. #1
    Jesus Christ is Lord

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    Default Barack obama sr: Tax rich at 100% of income

    BARACK OBAMA SR: TAX RICH AT 100% OF INCOME

    An exclusive sneak preview of "2016: Obama's America" highlights some of the economic and political philosophies of President Obama's father.

    Barack Obama Sr: 'Nothing Stopping Gov't From Taxing 100% Of Income'



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  2. #2
    Retired !

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    Default Re: Barack obama sr: Tax rich at 100% of income

    First I must comment that nothing in that short video clip proves who wrote that statement and the paperwork or book was not shown in full form. It means nothing.
    Taxing the people has been going on since the start of this great country.
    It will always be a point of contention, however many people of wealth and education acknowledge a fair tax based system is instrumental in allowing this country to prosper.

    "So-called supply-side economists don’t like raising taxes on anyone and argue that raising them on the well-off will slow economic growth. They say people at the top will have less incentive to work hard, invest and invent. History has proven them wrong. During 1951 to 1980, when America’s top marginal tax rate was between 70 percent and 92 percent, the nation’s average annual growth was 3.7 percent. But between 1983 and start of the Great Recession, when the top rate was far lower — ranging between 35 percent and 39 percent — the economy grew an average of just 3 percent per year. Supply-siders are fond of claiming Ronald Reagan’s 1981 cuts caused the 1980s economic boom. In fact, that boom followed Reagan’s 1982 tax increase. The 1990s boom was not the result of a tax cut. It came after Bill Clinton’s 1993 tax increase.

    - Robert Reich, Secretary of Labor under President Clinton, 2010
    "The power of taxing people and their property is essential to the very existence of government.''

    - James Madison, "Father of the Constitution," "Father of the Bill of Rights," 4th President

 

 

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