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Something To Think About – 5/03/2016

By H. Randolph Holder

HRH050316

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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