Taxation: The People's Business

Thomas Sowell has a column about Andrew Mellon's book Taxation: The People's Business, recently reprinted by the University of Minnesota. The Mellon tax cuts inspired the Kennedy tax cuts, which inspired the Reagan tax cuts. Mr. Sowell writes, "After Mellon finally succeeded in getting Congress to lower the top tax rate from 73 percent to 24 percent, the government actually received more tax revenues at the lower rate than it had at the higher rate."