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The work by Romer, Laffer, and a host of others all show that lowering tax rates usually increases tax receipts. The only exception I am aware of was when the max marginal rate was cut from 92% to 78% during the early Kennedy tax cut years. Evidently, at 78% it still pays to avoid taxes...duh. I think there are two points I don't get about the current tax debate and why the GOP is so friggin stupid not to exploit them.

First, Obozo says the rich should "pay their fair share". Given that the top 10% of income earners pay 71% of the federal tax bill, seems to me the rich deserve a tax break. But the GOP sits there with its thumb you-know-where and says nothing.

Second, when Obozo complains about all the tax loop holes, who does he think put them there? You clowns wrote the tax code and you know damn well why you put those loop holes in it...to get you donations to keep your stinking butt in office.

The democrats have controlled both the House and Senate for all but 9 years since 1950. If you really believed they are out to help you poor people, don't you think they could have gotten it right on the past 60 years? Instead, they buy your soul with a free cell phone and you blindly follow their economic policies over the cliff.

Personally, I think there should be a flat tax of 17% (Friedman's rate), no exemptions. And if you pay no federal income taxes, you don't get to vote. Nothing in the game, no reason for you to vote.

I'd be a horrible President, but a great dictator.