Jim and Fred
Jim, the level at which you wrote your web letter is pretty much confirmation that anyone who has a brain should vote Democratic with Republicans like you out there. Go back to believing everything Fox News and talk radio tells you to think.
Fred, here are some facts about the history of income tax rates for the wealthiest Americans for about the last 100 years. During the boom years of the 1940s and 50s, the income tax rate for the wealthiest Americans was over 90%. Yes, you read it right, over 90%. The lowest income tax rates the wealthiest Americans paid were during the late 1920s and early 30s, which was before and at the onset of the Great Depression. How did those tax cuts work out for our nation? Guess when the wealthiest Americans paid about the same rate of income taxes as during the early Great Depression? You guessed it, from 2003 to the present. Those tax cuts did lead to job creation. Unfortunately, those jobs were created in other countries because that is where the wealthy put their money. Over 60% of Americans, including about half of all Republicans, OPPOSE extending tax cuts for the wealthiest Americans. Since Reagan cut taxes for the wealthiest Americans, the highest quintile of Americans have gained ground (with the richest 1% gaining the most), while the lowest 80% of all Americans (AKA most Americans) have lost ground since 1980. Tax cuts for the wealthiest Americans have been proven again and again to be abject failure. Finally, the recession was over in June 2009. Funny how that was a few months after the stimulus was passed and which lowered taxes on Americans who make less than $250,000, AKA not the wealthiest Americans and most of us.
