Oct 1, 2016

So FDR was president from 1933-1945. He is widely credited as being what Bernie Sanders largely represents today.

But he took taxes farther than Bernie ever would dream of doing. "The Revenue Act of 1942 raised top rates to 88% on incomes over $200,000. By 1944, the bottom rate had more than doubled to 23%, and the top rate reached an all-time high of 94%."

Now I admittedly don't know the extenuating circumstances stances here, or how differently taxes used to be done, so maybe it's not as relatively high as it seems.

But even still, 94% on 200000$+ is insane. How well do you guys think this would work now? I understand it wouldn't get enacted into law anytime soon, but let's look at this from a "if we could wave a magic wand" perspective; so it becomes law. How would that effect the economy? Do you think our economy would still be diverse enough to be capitalistic to a healthy degree?

 

Oct 1, 2016

The top bracket tax rate was 91% under Republican Dwight D. Eisenhower (Ike).




Always made me laugh when morons call Obama "the most socialist president ever!!!!".

 

Oct 1, 2016

I love how George W spending trillions of dollars to meddle with the free market is not socialist at all, but Obama expanding food stamps is communism.

 

Oct 1, 2016

Jet beans melt fuel tower steel cant

 

Oct 1, 2016

200k then is 2.75 mil now btw