Taxation in perspective.

Author:Moore, Stephen
Position::Off the News
 
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"It's true that the economy was able to absorb the Bush 41 and Clinton tax hikes and still grow at a very rapid pace. But what the soak-the-rich lobby ignores is how different the world is today versus the early 1990s. According to the OECD, over the past two decades the average highest tax rate among the 20 major industrial nations has fallen to about 45 percent. Yet the highest U.S. tax rate would rise to more than 48 percent under the Obama/Democratic tax hikes. To make matters worse, if we include the average personal income tax rates of developing countries like India and China, the average tax rate around the world is closer to 30 percent, according to a new study by KPMG. What all...

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