You could probably blame television and game consoles as much as McDonalds.
Did you all know that the marginal tax rate on the top income earners
for the 50 years between 1935 and 1985 was over 70% (up to 90% in war years
albeit with a higher margin setpoint)[*]?
Today it is only 35%. It's no wonder the country is in deep doo-doo.
That high marginal tax rate paid for wars, the interstate highway system,
the moon program and the entitlement programs.
It was criminal of RR, GHWB[!] & congress to lower the rates without any
It was double criminal for GWB & congress to lower the rates during wartime (for
the first time in history).
[!] Read my lips...
You also miss the fact that after the Reagan tax cuts and the initial shock to
the system, tax revenues to the treasury actually increased because common
people were no longer penalized for achieving. Those were the people hit by
those tax rates; the actual rich -- the Rockefellers, the Kennedy's, the Gores,
etc all had teams of lawyers and tax loopholes to permit themselves to be
shielded from those 70% and 90% rates. What was criminal was that those
increased revenues were then viewed as a mechanism by those controlling
congress (where all spending bills originate) to increase social spending.
There is never a situation where having more rounds is a disadvantage
No, that's the sales pitch. It's really to keep the poor poor and the rich
rich. Ever wonder why after nearly a century of progressive income tax the
income gap is greater than ever?
Note how the taxes are structured. It's not people who are already rich who
get socked with the high taxes, it's the people who are in between, so they
never make it from working stiff to independent wealth.
"Big wow". They moved about 500 jobs to Chicago. Their Wa. payroll is, last
I knew, a bit under _85,000_ full-time positions. They were cutting jobs
agressively for a number of years, to get the payroll under 100,000.
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