Taxes, Employment Rates, and Deficits Explained In Less Than 2 Minutes

Update: Tony Adams, from the video has stopped by in the comments section. Go welcome him and ask him anything his remarks in the video make you think about! This keeps happening that people whose writings or video interviews I talk about on the blog show up.

Thanks to Greg.

Your Thoughts?

  • Physicalist

    I’d be interested in knowing more about the 92% tax rate that no one paid, but that led people to reinvest their wealth rather than sitting on it.

    • Roland

      @Physicalist: I recently read a history of aviation. Boeing in the early 50′s refused to pay the 92% tax rate. Instead, they spent the money on R&D. Result: the Dash-80, the prototype for the 707, which beat the British Comet and ushered in the age of jet travel for everyone. ‘Unintended Consequences’ can sometimes be a good thing.

  • Francisco Bacopa

    I totally agree with this dude. High upper bracket rates with exemptions for research and job creating investment would be totally cool. Fewer loopholes and higher corporate tax rates would do even more. Don’t wanna pay the tax? Plow the money into production. I don’t even care if some of that money goes into just above sweatshop factories in other countries. Developing countries might benefit from this type of investment.

  • tonyadams

    Hey guys, that was me in that video. Utilizing our nations resources for progressive investment is far superior to buying McMansions and 4th cars. Our government is supposed to move this nation towards common goals and benchmarks. People splurge on selfish conveniences.

    • Camels With Hammers

      Thanks so much for stopping by, Tony! It’s great to see you here. It’s that tax rate from the ’50s which always blows my mind. You would think that maybe those people who romanticize the ’50s and want to go back there so badly, could learn to wrap their minds around the idea that either it was a socialist paradise they’re so nostalgic for or high income taxes on the wealthiest are not inherently socialistic but can lead directly to private investment and capitalist enterprise. They can’t have it both ways!