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In reply to the discussion: Economists Say We Should Tax The Rich At 90 Percent [View all]noiretextatique
(27,275 posts)99. getting rid of deductions will hurt middle income workers the most
the ones who rely on mortgage and real estate tax deductions. reagan gutted the other deductions that helped the middle class.
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Oh but there most certainly was competition -- mostly "made in Japan" was a saying
loudsue
Oct 2014
#100
A few hundred thousand men KIA in a World War had no impact on unemployment?
cherokeeprogressive
Oct 2014
#69
The biggest correlation has been the huge increase in speculation since the early 1980s
happyslug
Oct 2014
#94
Low tax rates on top earners have meant lots of recessions, lots of economic upheaval.
JDPriestly
Oct 2014
#19
The wealthy love recessions because they can buy a good company for little or nothing and ride out
Jim Beard
Oct 2014
#95
Good point. Trade is a smaller part of our economy (24%) than any other country other than Sudan.
pampango
Oct 2014
#105
You dont think that was a big part of it? We made EVERYTHING. Others made very little.
7962
Oct 2014
#53
I notice both your cite and my cite rely on the same Government data, and the difference is SS
happyslug
Oct 2014
#92
Europe was back on its feet by 1947, and Germany was already the #1 Exporter by the 1960s.
happyslug
Oct 2014
#63
The growth came about because of full employment (which there wasn't, between 1929 and 1942 or so)
Spider Jerusalem
Oct 2014
#50
Couldn't you say industry failed to run amok with planned obsolescence back then?
RedCloud
Oct 2014
#52
Yes, but the rates that were ACTUALLY paid by the wealthy and big business were higher then than now
stillwaiting
Oct 2014
#108
What's the objective source for the allegation that high tax rates led to general prosperity?
Spider Jerusalem
Oct 2014
#45
I've been saying that for a long time. I'm glad economists finally agree with me. eom
Blanks
Oct 2014
#11
Good riddance. We don't need people buying prime real estate in the US and then not paying
JDPriestly
Oct 2014
#28
When you tax at 100%, what incentive is there for them to do anything?
Shoulders of Giants
Oct 2014
#85
Eliminate all deductions and loopholes and increase the rate to 55% for the top 1 %.
roamer65
Oct 2014
#77
Alas, the people (congress) who could do this have been bought by uber-rich.
Tierra_y_Libertad
Oct 2014
#65
If a top marginal rate of 90% would increase everyone's well-being, it could be argued that these
indepat
Oct 2014
#70
Reagan's intention seemed to be to turn America into a feudalistic nation
AZ Progressive
Oct 2014
#82
I think this is the single most effective way to strengthen the middle class.
lovemydog
Oct 2014
#74
I am for 50 K, and threy is support that that would INCREASE revenue to the Government.
happyslug
Oct 2014
#84
Sadly, Democrats asked the wealthy only to pay a little more, as if a little more would have cured
indepat
Oct 2014
#96
And I'd like a Federal Department of crisp, lossless, Grateful Dead soundboards.
Warren DeMontague
Oct 2014
#103
Yup. Not much to add to that other than saying: Share that graph far and wide.
True Blue Door
Oct 2014
#107
I would be happy with FDR's 60%-80% top rate from 1933 till WWII started. n/t
pampango
Oct 2014
#109
$100 million income taxed at 90%: can they survive on just $1 million per year?
Martin Eden
Oct 2014
#116
Democratic Party isn't strong enough to advocate for working families. Social justice
whereisjustice
Oct 2014
#118
I'll agree if the $$ goes towards Social programs and not to more military empire building.
Amimnoch
Oct 2014
#121