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The Perils of Tax Rate Nostalgia

davidcampbell45 Wrote: Dec 05, 2012 2:22 PM
til I saw the paycheck which was of $9487, I did not believe ...that...my friend could actually making money part time at there labtop.. there dads buddy haz done this 4 only about 14 months and recently paid the debts on their home and got a great new Mercedes. this is where I went,, ....... .........Bit40.com

A version of this column appeared originally in USA TODAY.

Americans have always reveled in nostalgia about the music, fashion or favorite foods of bygone eras, but a sudden yearning for the high tax rates of yesteryear represents a startling new development. While some opinion leaders pine openly for the tax system that once claimed a big majority of income from top earners, their cozy, communitarian vision offers a deeply distorted view of those good old days.

In his defiant "Twinkie Manifesto," professor Paul Krugman, Nobel Prize winner in economics, affectionately cites "the '50s — the Twinkie Era"...

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