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In 1950's TaxRate4Rich=90 %

In the 1950's when the middle class THRIVED and Moms could decide to stay home with kids the tax rate for the rich was close to 90%.
Sharon H June 14, 2014 at 10:43 AM
Oh my, now we can't have that now, can we? My how things have changed. Worse yet, according to Adam Smith (founder of modern capitalism), no more than 20% of the population should hold the most wealth of the Nation. Would he be surprised to find out that has now been whittled down to 2%. And still, no one does anything about it, or even cares. Sad.
George Johnson June 18, 2014 at 11:33 AM
We also had jobs in this country and 55% were not on welfare as a career option. How about we tax Hollywood at 90%. They do not create jobs like business owners do. People forget that those "rich" people are also reinvesting their money and hiring when cash flow is not all going to big Government.
Sharon H June 22, 2014 at 12:27 PM
Unfortunately, too many times when they "reinvest", they keep the profits in their own pockets. Or keep laying off bunches of folks while paying the top admins and themselves huge chunks of money. Like the bank bailouts. The banks had a choice of two things: open up credit and start doing business again while getting rid of the ones who brought the whole thing about or 2) investing the bailout money, put an even bigger squeeze on credit and keeping the investment proceeds for themselves (which includes ridiculously huge amounts of bonuses to those who actually were frauds and did their jobs poorly). Guess which choice they picked.

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