Quote:
Originally Posted by User Name
When Dwight Eisenhower was President of the US, the highest marginal tax rate was 90% (1961). That rate took effect at $400,000.
Was Eisenhower (a Republican) and "socialist", "marxist" or "redistributionist"?
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Ha. That made me go back and look at that whole link I posted, looking at the tax rates from 1913 until now. They started off very low, went up to over 70% during WW1, then dropped back down quite a bit until the depression, then shot up to 90-ish during WWII, where the top bracket stayed until...that great conservative LBJ lowered them to 70%.
And I've looked at a chart of the national debt, corrected for inflation, and it was pretty flat up until Reagan. We were able to fight WWII, the Cold War, and put a man on the moon, without increasing the debt. However, since the top tax rates were pulled down from 70-ish, we have developed a mountain of debt. It seems to me that rich people are still rich people, no matter what the tax rates are. The rest of us, are a different matter.