Why 70% Tax Rates Won't Work | Alan Reynolds | Cato Institute: Commentary

Why 70% Tax Rates Won't Work | Alan Reynolds | Cato Institute: Commentary: "reductions in top tax rates under Presidents Kennedy and Reagan, and reductions in capital gains tax rates under Presidents Clinton and George W. Bush, not only 'paid for themselves' but also provided enough extra revenue to finance negative income taxes for the bottom 40% and record-low income taxes at middle incomes."