How The Tax Rates Have Changed In The U.S.

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Editor:

Liberal: Synonym: Openhanded; unselfish; generous; kind; tolerant; intelligent; wide awake; broad-minded; rational; fair; left wing; unbiased and progressive.

Conservative: Synonym: Unchanging; illiberal; obstinate; inflexible; timid; fearful; uncreative; Neanderthal; unprogressive and selfish.

(Definitions taken from Webster’s New World Thesaurus by Simon and Schuster Inc., New York.)

Are you old enough to remember the 1970s? This country ran like a well-oiled machine. Everyone who wanted a job could find a good, family-supporting job if they so desired. The middle class was strong and vibrant. Life was good.

Budgets were full and the rich almost paid their fair share of taxes. The government had enough to balance most budgets so that the middle and poor class even enjoyed some government aid.

Clerks stood at factory gates handing out notices to exiting auto workers that read: “Do you know of anybody needing a job? Have them report to the employment office at such and such place between the hours of eight and five.”

Today our grand country barely totters along. The vast safety net that supported the less fortunate has vanished. The Republicans vow that if Romney is elected the rest of it will disappear. But the gluttonous rich will receive their usual tax cuts. The poor will have “to get along on less” in the words of that grand compassionate conservative George Bush. Every government is broke — state, local and national. What happened to us since the 1970s? How did we get into this situation?

A little history lesson for those memory-impaired: In the 1950s the tax rate on working people was 7 percent. Wouldn’t you dearly love to take home 93 cents out of every dollar you earn now? Back then the rich could pay up 50 to 92 percent, but few of them did. But they paid a heck of a lot more than they do now. Businesses paid an average of 47 percent. Now that rate is reversed — businesses pay less than 10 percent. The common man struggles along with a rate between 25 percent to 30 percent, picking up the taxes that the rich used to pay. The tax monies that corporations used to pay now go to rich stockholders and CEOs.

Leon Chamberlain

Comments

ALLAN SIMS 2 years, 3 months ago

Ah, ignorance is bliss. In the 70’s this fellow must have lived on a different planet. Look at the tax rates chart from The Tax Foundation @ http://taxfoundation.org/article/us-federal-individual-income-tax-rates-history-1913-2011-nominal-and-inflation-adjusted-brackets and see that the standard tax rate was never more than 70% and that was a product of constant wars and the cold war.

In 1975 we exited ‘Nam and the need for the constant war expenditures caused a drop in the economy. In the latter 4 years of the decade, the economy tanked under Carter, who spent more than could be taxed, even at those terrible rates. Only when Reagan came in did the highest rate drop to 50%. And, when that happened, the economy took off like a rocket, giving the U.S. economy the greatest resurgence since WWII.

This is typical liberal thinking. They wish it to be, and go about making history warp to fit their perverted view of what Utopia should be. I remember the 70’s quite well, and they were a disconcerting time, where jobs were hard to find. I had a contract with Boeing to do Force Mod work on ICBM’s but that went out the window when Nixon tried meddling with the economy. Japan actually sent foreign aid to Seattle, Washington. Then Carter got in, and things got worse, quickly. They had no concept of what deflating the military industrial complex would do to our economy. It took Reagan to get us on track again.

If we follow this fellow’s thinking, we will become peons under a ruling class such as Russia was under for 70 years. Their KGB leader warned us in 2008 not to go down that failed road, for his country had suffered horribly under it. No one listened. This fellow couldn’t hear that warning if his life depended on it, which it may.

Khrushchev also predicted this very period in time, saying “you will fall from within” and “we will bury you”. People try to corrupt his meaning thinking he was threatening to kill us and then bury us, but he meant that Russia would pick up the pieces after our self-inflicted demise. Well, here it is, and this fellow is following the Piped Piper, who is leading the ignorant to their doom.

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