Raising tax rates above a certain level, actually reduces tax revenues! It's a fact of history, and those facts are in my Sun-Times column, Monday, July 20th.
We want our government to provide more for us -- everything from health insurance to mortgage restructuring. But how will we pay for all of this? The lessons of history show that cutting taxes increases economic activity --and brings in more tax revenues.
Please read the column http://www.suntimes.com/business/savage/1674096,CST-NWS-savage20.savagearticle -- Then feel free to post your comments.
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Terry Savage
Terry Savage writes a syndicated personal finance column for the Chicago Sun-Times and for TheStreet.com. Her latest book is "The Savage Number: How Much Money Do You Need to Retire?" Read more at TerrySavage.com.
