NEWT EXPLAINS IT ALL FOR YOU….In the Wall Street Journal today, Newt Gingrich and Peter Ferrara tell us why median wages have sucked so badly during the Bush era:
Marginal tax rates for middle-income families in the 25% tax bracket are too high. Add in effective payroll tax rates of 15% and state income taxes, and these workers are laboring under marginal tax rates of close to 50%. No wonder middle-income wage growth has slowed sharply.
Yep, that explains it: George Bush has kept taxes too damn high and no one wants to work anymore. It’s analysis like this that has made Newt the conservative visionary he is.