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View Diary: Remember when strong unions and high taxes killed jobs? (35 comments)

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  •  Kennedy took the top tax rate (3+ / 0-)
    Recommended by:
    leu2500, srfRantz, JayRaye

    down from 92% which wasn't unreasonable.   Nixon cut them further, but the biggest damage was done by Ronald Reagan who took them down from 74% to I can't remember what rate in the 50s.  Dubya took them to 36% and the "I make money on Wall Street rate" to 15%.

    In the meantime, with those declining revenues, we've served up huge amounts of defense spending and a whole lot of wars.  And now they want to gut everything else.

    There already is class warfare in America. Unfortunately, the rich are winning.

    by Puddytat on Mon Jan 07, 2013 at 10:04:42 AM PST

    [ Parent ]

    •  Tax cuts ... (1+ / 0-)
      Recommended by:
      Puddytat

      Kennedy : reduced top marginal rate from 91% to 70%

      Reagan : in 1981 the top rate dropped from 70% to 50% and in 1986 the top tax rate was lowered from 50% to 28% while the bottom rate was raised from 11% to 15%

      Clinton : raised top rate to 39.6%

      Dubya : dropped top rate to 36%

      A waist is a terrible thing to mind.

      by edg on Mon Jan 07, 2013 at 03:12:11 PM PST

      [ Parent ]

      •  Thanks (1+ / 0-)
        Recommended by:
        BlackSheep1

        My memory isn't as good as it used to be.

        Wouldn't it be nice to go back to the pre-Reagan rates.

        There already is class warfare in America. Unfortunately, the rich are winning.

        by Puddytat on Mon Jan 07, 2013 at 09:08:59 PM PST

        [ Parent ]

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