Taxes can spur growth
Because many Americans want to believe we are overtaxed, we are inclined to accept Bruce Kaskubar's assertion in his Aug. 10 letter to the editor that historically tax cuts not only helped the recipients but also our economy as a whole.
Actually, the economy is much more complex. Examining the impact of changed tax rates in the last 20 years, one can see extraordinary economic growth following Clinton's 1992 tax increases, but only
anemic economic growth following Bush's 2001 massive tax cuts.
The historical perspective we ought to consider instead is the tax burden of the "greatest generation," not just during WW II but in the 1950s and 1960s. We had far higher marginal tax rates, a humming and expanding economy and we did great things: fought the cold war; built a phenomenal number of schools, colleges and hospitals; built the interstate highway system; put a man on the moon; and began Medicare.
The truth is, the current Bush tax cuts are unaffordable for America, are the largest part of America's structural deficit and have led to insignificant economic growth for America.