Recently, you ran a column by BYU professor Richard Davis ("Richard Davis: Tax hikes, especially on the wealthy, are needed," Oct. 30). He has previously espoused the virtue of a liberal press and the great benefit to the American people that Obamacare will be. It is not surprising that he would write about why we need higher taxes, especially on the rich.19 comments on this story
To my knowledge, four U.S. presidents have reduced federal taxes, with the following results: Under Calvin Coolidge, we had 4 percent unemployment. John Kennedy's tax cut greatly stimulated the economy in the early '60s. Under Ronald Reagan, we had the greatest peacetime expansion ever, with 21 million jobs created during his administration. Even under George W. Bush, unemployment was under 5 percent until government intervention destroyed the housing market.
Two states with no income tax — Florida and Texas — have balanced budgets. Three very high-tax states — New York, California and Illinois — are on the verge of bankruptcy. I hope the BYU students are knowledgable and discerning enough to recognize the flaws in Professor Davis' philosophy.