[ExI] Michael Cohen​

John Clark johnkclark at gmail.com
Thu Feb 28 20:02:31 UTC 2019

On Thu, Feb 28, 2019 at 12:59 PM <spike at rainier66.com> wrote:

> *If this government or any government makes arrangements for a 70%
> progressive tax bracket that is enveloping more and more people, most
> capital investments no longer make sense. *

A theory must fit the facts and that one doesn't. During World War 2 the
top tax bracket in the USA was 94%, and during all 8 years of the
Eisenhower administration it was 91%; and both periods were times of very
strong economic expansion. Today the top bracket is 37% (reduced by Trump
from 39.6%) and the wealth gap between rich and poor is enormous,
growing, and accelerating. And the gap between the rich and the super
rich is accelerating at an even greater rate. And the gap between the super
rich and the super ultra crazy rich is accelerating most of all. We seem to
be headed toward a Economic Big Rip which will be just about as
conducive to life as the cosmic Big Rip will be.

 John K Clark

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