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The Michael Vary Show is on the air. Oh! Thomas Soul wrote in social justice fallacies, racial fallacies.

Some years ago, the politicians in Maryland decided they were going to raise more revenue by increasing the taxes on people who had an income of a million dollars a year or more.

But after they did this, the number of people with incomes of a million dollars or more in Maryland

went down because rich people were not chess pieces.

They moved out of Maryland.

Instead of getting $100 million in new tax revenue, like they predicted,

Maryland got $200 million less in revenue.

During the Reagan administration,

the top tax, if I recall correctly, on the highest earners was

82% on your marginal income above a certain amount. I know you know this, follow along.

We have a tax process program

where the first amount of money that you make,

you pay nothing on,

and then we graduate that up on your effective earnings.

So after your write-offs and all that sort of stuff.

So the rate of tax you, the rate of taxes you pay on that first amount, I don't have the numbers in front of me.

Let's, I'll just make it round them.

Let's say it's 50,000 is nothing or 30,000.

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