Discern Report is the fastest growing America First news aggregator in the nation.
One of the favorite tactics for the new Democrats to push their idea of super-high taxes on the rich is to invoke Dwight D. Eisenhower. They say even a Republican President once believed in high taxes on the rich, a time in which the highest tax bracket was 90%.
John Stossel an economic historian Phillip Magness debunked the myth that rich people actually paid the extreme tax rates of the past in this video. As usual, Democrats have selective memories when it comes to anything they want to press.
Back in the days of high taxes for the rich, there were enough loopholes intentionally left open for them to cut their actual tax rates tremendously. According to Magness, the actual average rate paid by millionaires back then was around 41%. With fewer loopholes available today, the highest tax bracket of 37% is close to what is actually paid by those earning the most money. But what would happen if the high tax rates of the past were combined with the lack of loopholes of today? We’d have an economic collapse that would hit so swiftly, there’s no way Democrats would have time to react.
The bottom line is this: the best producers in America will no longer have an incentive to produce here. Some would leave. Others would simply stop producing. It’s easier for them to reduce their revenue and live off their accumulated riches than to earn money for the government to take. Even at a “more reasonable” 70% tax rate, as proposed by some of the top Democrats today, the increase would be too great for most wealthy Americans to bear. We saw this play out in France. We could see it play out here if the Democrats get their way.
Fighting the talking points of the left is one of the biggest reasons conservative sites like NOQ Report exist. We call on those who want to help prevent the rise of socialistic ideas to contribute to us; as a news outlet that is crowdfunded, you’ll notice a conspicuous lack of spammy ads that you find on other sites. This is intentional and allows us to reach a broader audience with the conservative truth.
Democrats love pretending like raising taxes on the rich will solve all of our problems. They know it’s not true, but it certainly sound good in campaign speeches. This isn’t really a tax grab. It’s a power grab designed to confuse the people.
Will you help revive the American Conservative Movement?
Covid variant BA.5 is spreading. It appears milder but much more contagious and evades natural immunity. Best to boost your immune system with new Z-Dtox and Z-Stack nutraceuticals from our dear friend, the late Dr. Vladimir Zelenko.