Toro
Diamond Member
Actually, if we even went back to the tax rates we had under Reagan, we'd probalby be okay.
You see, what you forget is that Reagan cut taxes, but he also increased spending, which is what got us out of the 1981 recession. Then he realized he had to raise taxes, which is what he did.
We had our greatest prosperity when the wealthy paid a top marginal tax rate of 92%. So if you want to use history as a guide, maybe we should go back to that.
We are more prosperous now than we were in 1961.
True story.
No, we're not.
Back in the 1960's, we had an honest to God Middle Class.
And we have an honest to God middle class today too, except today's honest to God middle class has a 1500 sq ft home that is 40% bigger than 50 years ago, two cars in the driveway, lives much longer because of better medical care, works less in less dangerous environs, has several TVs with 200 channels, has access to the Internet which didn't exist 50 years ago, may or may not have granite countertops, can make a phone call almost anywhere in the country with a computer he keeps in his pocket that can store 10,000 songs he can listen to anywhere, eats better, eats out more, can get on an airplane for about 20% of the inflation-adjusted cost compared to 50 years ago, and so on, and so on, and so on.
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