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Something To Think About – 5/03/2016

If you’re in the camp that believes that higher taxes on somebody else will pay for lots of free stuff from the government, consider this historic fact: When average tax rates went up from 27.6% in 1965 to 34% in 1975, tax revenues went down as a % of GDP. When rates were subsequently reduced to 23.7% beginning in 1975 through the ‘80s, tax revenues went up a whopping 60% as a percentage of GDP.

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