More on High Tax Rates

Here at COTTonLINE we have repeatedly argued that higher personal income tax rates do not bring in increased government revenues. If you'd like to read a technical article which goes through the proof for this viewpoint, see Alan Reynolds' Wall Street Journal piece on the subject.

It is our view that Democrats' desire for higher tax rates is essentially punitive, a resentment of economic success. Experience shows high tax rates result in legal (mostly) tax avoidance behaviors; behaviors which cause the economy to grow more slowly than it otherwise would.