Fortune criticizes Romney on tax rates

The Jan 12, 2012 edition of Fortune has this to say about Mitt Romney:

The last thing Romney is concerned about is income inequality. “I want to make everybody richer,” he says. “I don’t want to make the few rich poorer and make everyone else poorer at the same time.”

It’s an argument that Republicans have been making for decades, despite ample evidence that what drives economic growth and job creation is almost certainly more complicated than fiddling at the margins with taxes and regulations. From 1950 to 1963, the top marginal tax rate was never less than 91% — and the economy roared. … under George W. Bush the top rate fell to 35% and the economy grew at only 2.14%. Clearly taxes don’t tell the whole story.

But Republicans continue to call for tax cuts and deregulation, and a lot of people foolishly go along with them.

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