Fiscal Principles
9 June 2006
The Editor, New York Times
229 West 43rd St.
New York, NY 10036
To the Editor:
Paul Krugman admires the fiscal principles of those "Americans from an earlier era" who instituted the modern income- and estate-tax ("The DeLay Principle," June 9). Although my admiration is less, I'm willing to keep the estate tax if we return to the original personal-income-tax policies of those "progressive" leaders in 1913 - most notably, a tax-rate structure whose lowest rate was one percent and whose maximum rate of seven percent kicked in only when annual incomes reached $7.7 million (in 2006 dollars).
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
The Editor, New York Times
229 West 43rd St.
New York, NY 10036
To the Editor:
Paul Krugman admires the fiscal principles of those "Americans from an earlier era" who instituted the modern income- and estate-tax ("The DeLay Principle," June 9). Although my admiration is less, I'm willing to keep the estate tax if we return to the original personal-income-tax policies of those "progressive" leaders in 1913 - most notably, a tax-rate structure whose lowest rate was one percent and whose maximum rate of seven percent kicked in only when annual incomes reached $7.7 million (in 2006 dollars).
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Saturday March 24, 2007 at 7:38am