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The Boston Tea Party was prior to the American Revolution and was a protest
against British taxes on tea which at that time, was considered a mandatory
commodity. As I recall, British ships were boarded and the tea on board
dumped into the Boston Harbor. It was a big deal at the time and was no
doubt, a precurser to declaring freedom from taxes and other controls
pressed on the colonies by the British.
Bob
At 11:02 AM 7/26/99 -0500, kohath wrote:
>Does anyone know anything about the Boston Tea Party? I have heard that it
>involves taxation, but would like more info on the subject!
>
>
>
> We're both right. In percentage terms, lower income consumers benefit
>more,
> but in absolute terms, the wealthy will benefit more. The reason I focused
> on the impact in absolute terms is because the same logic applies to tax
> rate reductions
>
> The Republicans recently proposed cutting all tax brackets by 2 percentage
> points. Just to use even numbers, if you reduce a 40% tax bracket to 38%
> and a 20% tax bracket to 18%, someone in the lower bracket has clearly
> benefited more in percentage terms. Their tax bracket has dropped 10%,
> while the higher one has only dropped 5%. However, someone earning $500K
>in
> the higher bracket has received a $10K reduction, while someone earning
>$50K
> in the lower bracket has only gotten $1k.
>
> As I said, the same logic applies to debt reduction, but the same people
>who
> decry a tax cut seem to be (grudgingly) in favor of debt reduction... Go
> figure.
>
> Bruce
>
>
>
>
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