I think this held during Eisenhower too and he was Republican and
back then the affiliation was not a brand on your back...we all worked together...Republicans along side Democrats. Stephen Miller and Don Trump decided it was time to divide the US because of OBAMA after 8 years...my 2 cents.
Many people fear high rates because they don't understand our graduated income tax, which is stepped upward as earnings increase. Money from step A to B is taxed at the same rate. Earnings between step B and C is taxed at a slightly higher rate. Everything from Step C to D slightly more, and so on.
Eisenhower created the biggest middle class in world history.
During and after the Eisenhower years some 90% of all college students were the first in their families to go to university.
Now we have university students who have no idea who Eisenhower was.
My father was one of those people. He came from abject poverty. He was working at a local YMCA and the owner took pity on him and paid for his first semester in college allowing him a future. Although my father had to work four jobs at one point to sustain he still did it on his own.
This really is a no-brainer. Taxes should be based on income levels. You have the capacity to earn millions? Then your income tax should reflect that. The whole country benefits.
don't raise them, eliminate the loop holes and make them pay their fair share. That alone will fund all basic needs for every American from cradle to grave.
I don't envy the rich, good for them. Just pay like everyone else.
“It is not unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.”
—Adam Smith, The Wealth of Nations
Adam Smith is considered to be the father of #Capitalism.
And those rates didn’t kick in until 50s/60s-level incomes were first taxes at a normal rate. Only after hundreds if thousands were already earned did the higher rates apply. It did NOT start at that rate from scratch.
Adam Smith noticed that if you don’t the nation fails. His book was The Wealth of Nations not The Wealth of Individuals. The USA is on its way to economic collapse soon if things don’t change.
Great points! He was a moral philosopher and he described what built wealth of nations not individuals for sure. Things were built to last until recently from my anecdotal experience but one thing also is his observations about a growing economy also involved a growing population and we reached that
I asked a PhD economist to explain how a gas engine worked. He cudn't even start but he drove an SUV.
In 1938 engineers with slide rules designed the 1st US military plane to do 400 mph. The P-38 Lightning took to the sky in Jan 1939, 30 yrs before the Moon landing.
Why care abt cars 30+ yrs after?
Comments
back then the affiliation was not a brand on your back...we all worked together...Republicans along side Democrats. Stephen Miller and Don Trump decided it was time to divide the US because of OBAMA after 8 years...my 2 cents.
During and after the Eisenhower years some 90% of all college students were the first in their families to go to university.
Now we have university students who have no idea who Eisenhower was.
RECLAIM WHAT THE WEALTHY HAVE BEEN STEALING FROM US FOR DECADES!!!
🚨🚨🚨
I don't envy the rich, good for them. Just pay like everyone else.
—Adam Smith, The Wealth of Nations
Adam Smith is considered to be the father of #Capitalism.
Adam Smith used the word 'education' EIGHTY Times in Wealth of Nations. He wrote "read, write and ACCOUNT" FIVE times.
Have any modern economists ever heard of Adam Smith? He didn't write anything abt Planned Obsolescence though!
In 1938 engineers with slide rules designed the 1st US military plane to do 400 mph. The P-38 Lightning took to the sky in Jan 1939, 30 yrs before the Moon landing.
Why care abt cars 30+ yrs after?
They lived in normal neighborhoods.
They shopped at the local stores. Their employees were well paid.
Tax breaks were given for investing in the nation.