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There is an error here in

Submitted by Minimum Wage on February 21, 2008 - 15:25.

There is an error here in assuming static prices.

In the 1980s, tax rates were cut, so my taxes were reduced.

However, since there was a general increase in after-tax incomes, people had more money to spend. Because people had more money to spend, the price of housing went up. Rents soared, and I faced five rent increases in five years, even though my gross income did not increase.

While my taxes went down, my rent went up by a lot more than my rent went down, so I ended up worse off.

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