U.S. Tax Rates: A Bargain Hunter's Dream?


to get a fresh look at the tax and deficit debates of 2010, let us recall for a moment 1979, the year when Saddam Hussein became dictator in Iraq, the Russians foolishly invaded Afghanistan, and our ally the Shah of Iran was overthrown in favor of the Ayatollah Khomeini.

. . . . .

So what has happened to tax burdens since then?

Anyone who pays the slightest attention to the news knows that today the meta-story is that we suffer from high taxes, confiscatory taxes, rising taxes, wasted taxes, and unfair taxes. Pick up the paper, turn on the TV, or listen to the radio and the message comes through loud and clear: Our economy is in trouble because we suffer from excessive taxation.

The problem is the facts don't fit the story.

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