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CNBC: JFK said taxes don't raise revenue so don't do it today



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More often than not the NetNet column at CNBC is worth reading. This is one of those exceptions that proves the rule because it's completely off and very misleading. Comparing what JFK said decades ago when the top tax rate was closer to 70% has very little to do with where we are today. It's an apples to oranges comparison. Where the column falls flat is that it completely ignores the fact that we've had the Bush tax cuts for ten years yet there are no sign of the promised jobs.

So if according to this author, raising taxes doesn't raise revenue, how come slashing taxes hasn't generated either revenue or jobs? How is it even remotely possible to overlook the Bush tax cut experiment? It's conveniently ignored and CNBC really needs to do better than this.


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