Rick Santelli minted some new arguments against the Obama tax plan in a radio interview on King World News.
He says you can’t compare Obama’s plan to the near-90% upper bracket tax rate under Eisenhower because: “The threshold for that higher marginal tax rate was $400,000. What do you think $400,000 in ’56 is worth today? About $3.2 million.”
And you can’t go back to the Clinton era: “Look at the differences in 1992, ‘3, ‘4, ‘5. We had the tech revolution, we had a huge upside coming from Silicon Valley. These dynamics aren’t in place today.”
Santelli, the Tea Party progenitor, remains confident of a political turnaround in November.
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