1/7/2012 8:01 AM
What he was really trying to do was replace revenue that was lost when he reduced the marginal tax rate on income from 70% to 50%. As the marginal tax rate falls (Now at 35%) the income gap widens. If the "Job Creators" can keep 65 cents of every dollar of income, not just 8 cents as in 1963, why should they offer health care benefits, defined pension plans, or a living wage to their employees. We wouldn't even need Obamacare if the marginal tax rate was the same as it was in 1952: 92% on income over $1,693,431*.