A small misconstrued notion about the financial state of the U.S., spoken by the right person, can cause chaos among the uninformed citizens in the country. There have been several huge myths popularize and fed into by the media over the decades. You canâ€™t believe everything you hear on the television or the internet. You have to do the research for yourself. Here is a quick summary of just a few of the ridiculous (yet widespread) lies that most people fall victim to believing.
Higher taxes for the rich would hurt the economy
This is completely untrue. From the 1930â€™s to the early 80â€™s, Americans in the top ten percent of income ranges faced lofty tax rates. Eisenhower jacked those numbers up even higher when he came into the presidency. The economy also grew faster during that time span than it ever has before or since. You also shouldnâ€™t believe that higher taxes on the rich would hurt all of the small business owners. There are actually less than two percent of owners that would even come close to falling into the highest tax bracket. [Read more…] about Top Five Myths Pertaining To The U.S. Economy