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View Diary: Federal taxes lowest since 1950 (196 comments)

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  •  Hmmm. IIRC, (1+ / 0-)
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    happy camper

    the national debt was relatively modest then too.  Wonder why that would be...

    The Republican motto: I've got mine. Screw you.

    by leu2500 on Fri Jan 28, 2011 at 07:27:30 AM PST

    •  Actually (0+ / 0-)

      The national debt in 1950 was about the same as it is now (1950 94.2% of GDP, 2010 93.4% of GDP). Some of the things that were different were; we had fairly low unemployment, a high rate of growth, a trade surplus and high rates of union membership. We grew our way out of the debt. By 1980 it was down to 33% of GDP. Everything they are telling you about economics is wrong. "They" includes most prominant Democratic Economists like Larry Summers and Tim Geithner. Balanced budgets cause recessions.

      "If I pay a man enough money to buy my car, he'll buy my car." Henry Ford

      by johnmorris on Fri Jan 28, 2011 at 07:41:30 AM PST

      [ Parent ]

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