Up & Down Wall Street - Barrons.com

MORE OF THE SAME: Up & Down Wall Street - Barrons.com

As for the Bush tax cuts, as I recall, they saw the percent of all income taxes paid by the top 1-2% go from 41-2% of all income taxes paid to something like 51-52%.

One reason people for years have said Hong Kong is business friendly and people pay taxes is its low top rate.

This has been taken as policy by some of the Eastern European countries and of course Singapore.

At the opposite end is Greece, where high taxes are directly correlated with low receipts and high tax evasion.

Somehow people forget that they too like to shop in stores where prices are low and benefits are high. When the prices don't equal the benefits, they shop elsewhere.

How is it possible that those 'others' won't also change their patterns of behavior when taxes go up? All evidence would seem to point to the fact that people are pretty normal and they like to be paid for and keep what they can and buy the most with it.

Sadly, its redistributionist policies that rely on other peoples money to support spending that has gotten the world into its current mess.

Saying "more of the same" would seem exactly the wrong prescription.