From an Oracle

July 1982
National Review;7/9/1982, Vol. 34 Issue 13, p813
The article analyzes the importance of econometric statistics for real economic activity in the U.S. Despite all the talk of huge tax cuts, inflation and Social Security increases boosted tax rates 10 percent in 1981, even after the cuts introduced in October 1985. Projected deficits in U.S. President Ronald Reagan's administration, assume that 46 percent tax rate increases in former U.S. President Jimmy Carter, would bring in proportionately larger revenues, when a depression would be a more likely result. Not only inflation but high marginal tax rates force them up.


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