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[–] Racer_the_observer ago
Growth and prosperity in the USA was highest when taxes on the rich were highest. The rich have now turned things around.
[–] Fuzzy_Dunlop ago
That is way oversimplifying it. Growth and prosperity were highest right after WWII when the rest of the industrialized world had been bombed into oblivion and we were the only manufacturing power left. Also, you can't just compare the tax rate on the top tax bracket and assume that reflects the actual tax rate. For one, the top tax bracket was way higher back then. Our current top tax bracket covers the top 1% roughly, if you adjusted the early 1950s top tax bracket for inflation it would only cover less than .1% and obviously a way smaller percentage of the income of the people it actually covered. Another way you know that isn't a fair comparison is that the actual amount of money paid in income tax in the early 50s as percent of GDP was lower than it was last year.
And before you respond, I am not claiming trickle-down economics is true. I am just saying that the inverse is also not true.
[–] Racer_the_observer ago
Maybe your right. What about Trumps claim that he and the rest of the billionaires could pay off the national debt. Do you think they should or do you think the poor should also have to pay part of it?