MannyGoldstein (1000+ posts) Tue Aug-26-08 12:15 PM
Response to Original message
7. Top Tax Rate Under Eisenhower Was 91%
Eisenhower was a Republican, and for two years there were Republican majorities in both houses of Congress. They could have cut that rate, but they did not - because it worked well. The economy did absolutely fine.

In Eisenhower's day, the richest Americans paid, all told, about 50% of their income (including earned income and "capital gains") in taxes, while the middle class paid under 10%. Today, the richest Americans pay, all told, only 17% of their income in taxes, while the middle class pays more than 30%. An our economy is a basket case, and the middle class has been decimated.

The current situation is a catastrophe.

The author of your referenced article is either ignorant or evil. Probably both.
Liberalism: Because it Works Better.

I would love to see what would happen to this moran's economic situation if the top tax rate went back to 91%.