And, significant ones at that. Under JFK, the top tax rate was a whopping 92% on all income over $400,000 dollars. Unemployment was low. We ought to raise the tax rate to at least 90% on all income over 2 million dollars. Rather than paying those taxes, those making that kind of money would give that money to charity, and HIRE people...because they could do it at 10 cents on the dollar!
We would see unemployment drop, and those being hired would be paying taxes as well. We would solve the deficit problem, and be able to pay teachers, and hire more, as well as police, firefighters, etc.
We ought not only let the tax cuts expire on the wealthy. We ought to raise the top rate significantly.
