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View Diary: Krugman is Wrong: The Real Reason to Raise Taxes on the Rich (133 comments)

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  •  Great link by the way, but (4+ / 0-)
    Recommended by:
    yaque, divineorder, NoMoreLies, martini

    Would be better to include int rates and oil by the barrel. And much better to use effective rates. In 1980 the top rate was 70% effective abut 33%, today top rate is 35% effective abut 32%.

    For example when Reagan took the WH oil was $44 bbl, and then declined to $11. Interest rates also declined. top rate went from 70% to 28-back up 31%?

    The link you provided might be more interesting if it noted peaks in the price of oil in '49, '54, & '57 and overlay that on GNP growth.
    Note that from 1957 to 1972 oil steadily declined.

    http://www.oilism.com/...

    http://en.wikipedia.org/..._(the_US_1947-1973).png

    And note how GNP growth dipped in the years oil spiked. And how it still is.

    FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Sat Nov 26, 2011 at 12:22:36 AM PST

    [ Parent ]

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