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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.
In response to:

Gold Higher In Early Trading

pagaymon Wrote: Nov 20, 2012 11:52 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:

Gold Higher In Early Trading

pagaymon Wrote: Nov 20, 2012 11:52 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.
In response to:

Gold Higher In Early Trading

pagaymon Wrote: Nov 20, 2012 11:52 PM
One of the many myths propagated by conservatives is that our corporate taxes are high compared to other countries. It is true that our nominal rate of 35% is high, but because of loopholes, this figure is meaningless. A good parameter to look at is total corporate taxes actually paid divided by GDP because neither of these figures can be fudged by corporations. If you look at developed countries, you will see that Norway has the highest value at 12.5%. The US is tied with Turkey for the lowest at 1.8%.
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Gold Higher In Early Trading

pagaymon Wrote: Nov 20, 2012 11:52 PM
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:

Gold Higher In Early Trading

pagaymon Wrote: Nov 20, 2012 11:52 PM
The new breed of Republicans in Congress care more about defeating Obama and protecting the wealthy than they do about the US economy and the jobless, not to mention global warming, the environment, etc. Dynamic scoring is a pipe dream and a subterfuge for any actual useful action other than giving gifts to corporations and the 1% that are now glorified as the job creators. Anything that doesn't fit into their scheme is categorized as class warfare. The media in general and Fox News at its most extreme are aiding and abetting the radical right by misleading voters into accepting the illusory promise of supply side economics, i.e. tax cuts for the rich are the solution to reduce the deficit and create jobs.
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Groundhog Day: Middle East Version

pagaymon Wrote: Nov 20, 2012 11:47 PM
A conservative neighbor of mine will not stop talking about Ayn Rand's "Atlas Shrugged." I told him it read like a comic book as each character is either all good or all evil. (and you know right away once the character is introduced) I better read is Alexander Solzhenitsyn's "Gulag Archipelago," where he articulates in Volume III, 'the Ascent', that the battle of good and evil take place within each individual human being and not between good people and evil people. Conservatives are always looking for evil people to go Jihad against. In this way they are like the Nazis. The Nazi party needed scapegoats to justify their atrocious deeds as Republicans do.
When 'undesirable' Jews were off-loaded from trains at Auschwitz, what did the Nazis tell them? "We are going to give you a shower." Watch what people do, not what they say.
In response to:

Political Parties Need Rebranding

pagaymon Wrote: Nov 20, 2012 11:45 PM
When 'undesirable' Jews were off-loaded from trains at Auschwitz, what did the Nazis tell them? "We are going to give you a shower." Watch what people do, not what they say.
In response to:

Political Parties Need Rebranding

pagaymon Wrote: Nov 20, 2012 11:45 PM
Here's another example of establishment Republicans behaving like Nazis. These Republicans want voters to show ID cards in order to vote. Republicans want to secretly repeal the Voting Rights Act of 1965. Republicans want to make it difficult for people with the 'wrong' skin color and/or the 'wrong' religion to vote. Republicans will never, ever tell you their true intentions. Republicans still do not accept President Obama's various birth certificates! Republicans say to themselves, "we can always find some flaw (in our eyes) in their Identity card (a scratch, even) to inhibit undesirables from voting. Would these Republicans ever fess up and say they want to suppress the undesirable vote. No!
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