CNN Fareed Zakaria GPS April 14, 2013 17:03:00
And governments in europe, asia, latin america and now africa have followed the same course. the top marginal tax rate in india in 1974 was 97.5%. really. today the top rate is 40%. in the u.s. in 1977, taxes on capital gains and dividends were 39.9%. in 2012, the rate was 15%. in 1977, corporate taxes in america were close to 50%. they're now 35% and most companies pay a lower rate. these changes have taken place under conservative, liberal and even socialist governments. peter manville from the architect of the labour party s in the 1990s, declared we are all thatcherites now. thatcher's ide...