In a 1995 speech in Texas, President Clinton said “Probably there are people in this room still mad at me at that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them to much, too”
At the time, the top tax rate was 36%.
Today, with the economy still struggling, Kerry has announced his plans to raise the top rate to 39.6%, which is what it will be if the Bush tax cuts are repealed.
So was President Clinton wrong about tax rates on top earners? Was 36% too high, as the former president said, or too low, as Sen. Kerry says today.
If anyone needed proof that John Kerry is a high-tax lefty even inside his own party, here it is.