• "Well written, well researched, and the thesis put forth is well argued.... Woods has opened up an area of historical analysis that should invite further study."
    -Journal of American History

  • "During these times that challenge our freedoms there is no one more qualified to make U.S. history relevant to the fight against big government than Thomas Woods."
    -Barry Goldwater Jr.
    Former Member of Congress

  • "I strongly recommend Woods's work."
    -The Honorable Ron Paul,
    U.S. House of Representatives

  • "Written with great clarity and fluency, making the complex philosophical and theological concepts approachable."
    -Journal of American Studies

  • "A must-read."
    -Barron's

  • "An excellent reading source for anyone interested in financial markets, and much more so for anyone interested in learning about capitalism without all the misinterpretations being thrown about in the financial media."
    -Asia Times

  • "Provocative, well-written, and deserves to be read."
    -Catholic Historical Review

  • "An engaging and important contribution to scholarship on the history of American Catholicism."
    -Journal of the Historical Society

  • "Woods and [co-author Kevin] Gutzman appeal to both left and right in this constitutionalist jeremiad…. The authors' exegeses of the Constitution and court decisions, heavy on original intent arguments, are lucid and telling."
    -Publishers Weekly

  • "A marvelous read. Every chapter taught me something new and unexpected."
    -Tom Bethell, senior editor,
    The American Spectator

  • "The hottest book today is Meltdown, by my friend Tom Woods."
    -Judge Andrew Napolitano, senior judicial analyst,
    FOX News Channel

  • "Should be required reading."
    -Economic Affairs (London)

  • "Woods, one of the best classical liberal [libertarian] scholars of his generation, has once more placed us in his debt with this lucid and tightly argued book."
    -David Gordon, The Mises Review

  • "Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy."
    -Peter Schiff

How to Refute the 91%-Tax-Rates-Are-Awesome Argument

Thanks to EconomicPolicyJournal.com for linking to this takedown of Paul Krugman’s case for bringing back extremely high marginal income tax rates.

Here are my own responses to the high-taxes-gave-us-prosperity people:

1. Says the Left: We Were Rich and Awesome When Taxes Were Higher
2. Seizing Your Money Is Good For You, Citizen: Where Else Would We Get Rainbows and Sunshine? (this is a reply to a critic of #1)

Unlearn the Propaganda!

  • http://www.facebook.com/michael.fleischer.908 Michael Fleischer

    Several left leaning acquaintances of mine have cited this NY times article and the congressional study here as more evidence that top marginal rates are not associated with lower economic growth. I insist that the burden of proof is on the left to prove that higher rates did NOT impeded growth. They consistently leave out the fact that the real effective rates in the 1950 were lower despite higher published marginal rates.

    I found a discssion of Mitt Romney’s father : George’s Tax returns with ACtuall published rates of taxation. I think to really rest this case we have to produce actual tax returns from real people to prove this

    See this discssion of George Romney’s taxes:
    http://www.taxhistory.org/thp/readings.nsf/ArtWeb/AEEC9CAC8F773DD7852579C20073FD36?OpenDocument

    and the NYtimes article:
    http://www.nytimes.com/2012/11/02/business/questions-raised-on-withdrawal-of-congressional-research-services-report-on-tax-rates.html?emc=eta1

    and the congressional study…check out the bottom of page nine for a ridiculous discussion of capital gains rates:
    http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf
    Michael fleischer

  • http://www.facebook.com/people/Greg-Landers/714287962 Greg Landers

    Krugman Vs. Woods one on one, live and unedited… that would be an epic thrashing! LOL quasi-joking aside Woods, Schiff, Rockwell… something needs to break these boys deserve national attention. keep tweeting and sharing!

  • Jeremy

    It SHOCKS me that anyone could possibly believe that a tax rate of 91% could create more prosperity. not only that but that anyone believes that the full 91% tax was ever payed by anybody. Even I knew that incredibly high tax rates like that would cause businesses to fail even before ever reading one sentence of economics back in the day.

    Heh, go figure.

  • BrunoT

    91% tax rates lead to prosperity…for high-end luggage makers.