"…it will be under the banner of the “PLEASE READ A HISTORY BOOK” party.
We’ve paid for two wars by mortgaging our future. Should we have fought them? Don’t care. Doesn’t matter. We’re paying for them anyway. How best to do it?
Our current administration recommends asking rich folks to pay more. But a bunch of (mostly) poor people don’t like that, because it’s “socialist”.
Current tax rate for a really rich guy: 35%.
Tax rate for a really rich guy under Reagan: 50%.
Tax rate for a really rich guy under Nixon: 70%.
Tax rate for a really rich guy under Eisenhower: 90%.
Reagan, Nixon, Eisenhower: all well-known socialists. Sigh."
1. Can I offer a slight; but VERY important correction?
Current tax rate ON EARNED INCOME for a really rich guy: 35%.
This is signifcant because for the really rich guy, earned income is a very small portion of his taxable income ... mitt taught us that, or should I say would've taught us that, had he disclosed his tax filings.
But that said ... I could never run for political office; I wrote too many "controversial" papers and lived too exciting a life.