Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterLetter: Rates and revenues not hard to figure out
Monday, Jan. 2, 2006 | 7:38 a.m.
Many often claim that reducing the percentage rate of a given tax will always result in reduced revenue. This in spite of existing proof that rate reduction has always resulted in a significant revenue increase. Case in point:
Throughout the '70s and early '80s the revenue from capital gains taxes fluctuated between 9 billion and 11 billion dollars per year. In just one year, after the percentage rate was cut from 28 percent to 20 percent in the mid-1980s, capital gains revenue jumped all the way to to $47 billion!
The political outcry that this tax rate reduction only helped the wealthy, and hurt the poor, was so strong that the following year the 28 percent was reinstated, resulting in a reduction in revenue all the way down to $27 billion. A loss of 20 billion tax dollars, yet referred to as a political victory for the poor.
Bill Cramer Las Vegas
archive
- Most Read
- Discussed
- Most E-mailed
- Pinnacle CEO resigns after meeting confrontation
- As earnings fall, Riviera unsure if bankruptcy can be avoided
- Trial set for parents of boy, 4, who died in hot vehicle
- Scientology foe’s arrest raises issue of rights
- Wynn Resorts to begin paying shareholder dividend
- Las Vegas home prices, sales rise in October
- Miguel Cotto camp says big cut in June fight an asset now
- NY-NY sues Calif. man alleging trademark infringement
- If you can rebuild the whole car, then why not allow an engine change?
- Cada cherishes moment as poker’s youngest champ
Blogs
The Kats Report
Of tanking, drugs and 'Slim': In 'Open,' Andre Agassi beats the odds
Robin Leach's Las Vegas Celebrity Watch
Who are the Final Four on Dancing With the Stars?
Politics: Ralston's Flash
Drugs bring Nevada governor, first lady back together (3 Comments)
Elsewhere
Macau's gambling industry faces nightmare of water rationing (2 Comments)
Top Chef: Las Vegas
Top Chef Odds Week 11: And then there were six
Politics: The Early Line
Rep. Berkley livens health care debate with story of her own (1 Comment)
Now and Then
Wranglers to face familiar foe and that's putting it mildly
Calendar »
- 11 Wed
- 12 Thu
- 13 Fri
- 14 Sat
- 15 Sun
-
Days of the New at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
-
DJ Boris at Godskitchen
Body English | 10:30 p.m. to 11:30 p.m.
-
Holding on to Sound at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Rockabilly Wednesay at Revolution Lounge
Beatles Revolution Lounge | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
