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Since 1900 the periods with the lowest marginal rates were the years leading up to 1929 and 2008. These were also the periods when economic inequality and speculation were the greatest and they led to disaster. When tax rates are high, since rich people hate to pay taxes, they leave their profits in their companies, pay their workers more, improve their means of production, and perhaps even hire more, but when rates are low, they take them out and ... speculate!
In 1946 the debt was 120% of the GDP, It went straight down to about 32% in 1973. During this period 1946 - 1973 taxes on the Rich were much higher. Marginal rates were at least 70%; they were 93% under Eisenhower. The economy was better than what we now have. For example, median wages went up 3 times as fast as since 1973. CEO's earned 50 times what their workers earned; it is 500 times today. Staring in 1973, the percent of wealth and income taken by the richest 10%, 1%, and 0.1% has gone up at an ever increasing rate.
How about some facts: All other industrialized countries have some form of universal government run health care. They get better care as measured by all 16 of the bottom line public health statistics, and they do it at 40% of the cost per person. If our system were as efficient, we would save over $1.5 TRILLION each year, and the deficit would soon vanish.
In response to:

Folks, We Have a Brand New Ballgame

Denis3957 Wrote: Oct 05, 2012 2:54 PM
Since 1900 the periods with the lowest marginal rates were the years leading up to 1929 and 2008. These were also the periods when economic inequality and speculation were the greatest and they led to disaster. When tax rates are high, since rich people hate to pay taxes, they leave their profits in their companies, pay their workers more, improve their means of production, and perhaps even hire more, but when rates are low, they take them out and ... speculate!
In response to:

Folks, We Have a Brand New Ballgame

Denis3957 Wrote: Oct 05, 2012 2:53 PM
In 1946 the debt was 120% of the GDP, It went straight down to about 32% in 1973. During this period 1946 - 1973 taxes on the Rich were much higher. Marginal rates were at least 70%; they were 93% under Eisenhower. The economy was better than what we now have. For example, median wages went up 3 times as fast as since 1973. CEO's earned 50 times what their workers earned; it is 500 times today. Staring in 1973, the percent of wealth and income taken by the richest 10%, 1%, and 0.1% has gone up at an ever increasing rate.
Want to continue the failed "trickle down" economic theory? VOTE REPUBLICAN!
Republicans 2012 - Keeping millions out of work to put one man out of a job.
I told the Tea-Partier George Bush was a socialist and his urging of "re-capitalizing" was a clever Socialist ruse. The Tea-Partier clamored, "How?" I said, "Republicans are clever, they use code, they use the word 'recapitalize' to fool people because it sounds like capitalism. In fact, George Bush is a Socialist, he wants to redistribute wealth from the bottom upwards." Just ask yourself where did that capital to bail out the banks come from? Where does the capital for farm subsidies come from?
In response to:

The Great Debate

Denis3957 Wrote: Oct 05, 2012 1:39 PM
I told the Tea-Partier George Bush was a socialist and his urging of "re-capitalizing" was a clever Socialist ruse. The Tea-Partier clamored, "How?" I said, "Republicans are clever, they use code, they use the word 'recapitalize' to fool people because it sounds like capitalism. In fact, George Bush is a Socialist, he wants to redistribute wealth from the bottom upwards." Just ask yourself where did that capital to bail out the banks come from? Where does the capital for farm subsidies come from?
In response to:

The Great Debate

Denis3957 Wrote: Oct 05, 2012 1:38 PM
I met a Tea Partier the other day and asked him, "didn't we socialize the American financial system while George Bush was president?" He answered with an emphatic, "NOT POSSIBLE!" I said, "Don't you remember when Hank Paulson said he needed $700 billion, 'quick and clean,' with no strings attached to spend as he saw fit?" I told him, "The first time Congress voted on the $700 billion bailout it failed and the DOW sank 800 points the next hour." The Tea-Partier thought that was funny. George Bush made a speech from the Oval Office later that week saying "We need $700 billion to recapitalize the American financial industry."
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