The DAILY CALLER just posted my column Taxes Won’t Work For Trump. Trade And Immigration Will
, arguing that the tax issue won't work for Trump because marginal rates are now stable, whereas in 1980 they were soaring (see chart):
Why? Not because Big Government liberals were increasing taxes directly — although they were very happy to benefit from the results indirectly. Instead, it was the result of that era’s inflation, which was driving taxpayers into higher tax brackets even though their actual purchasing power was falling — a nasty effect that was called “bracket creep.”The American middle class was being pushed into a buzz saw. And it reacted violently.
Today, the buzz saw is immigration.Comment
at DAILY CORNER. We'll post an interactive version of the chart in a day or so .