Unleash incentives by taxing energy

Thursday, June 4, 2009

The recent death of Jack Kemp allowed Americans to reflect on the power of ideas in the political marketplace. Rep. Jack Kemp, Sen. William Roth and President Reagan were the architects of lowering the top marginal income tax rate from 70 percent to 50 percent and indexing all tax rates for inflation. Those tax cuts provided enhanced incentives for work and investment and helped usher in a productivity revival that advanced living standards through the next two decades.

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