Palin's march to the Whitehouse

[Boreas]

Originally Posted by BlueStreak

And oh, BTW, the tax rate for the wealthiest Americans under Ike was 90%!

And when the top marginal tax rate was 90% we enjoyed an unprecedented rate of growth in our economy and the middle class grew, in both size and wealth, at a rate never seen before or since. All the low top marginal tax rate has done is make the rich richer and increase the disparity between rich and poor.

[d-ray657]

Originally Posted by BlueStreak

"How many "very decent Americans" were called Un-American and told they hate freedom? Why, I recall a time when expressing an opinion that was at odds with Bush's wars would be greeted with an invitation to move to another country. Pft. Cuts both ways."

And haven't we seen all of this before? Study the McCarthy era.
All of the same shit. Same party, same dogmas, same assumption that anyone who didn't adhere to the far right-wing agenda was a "Commie pinko fag."
The only difference was that, at the time we had a Republican President, Eisenhower, who was truly a "Great American". And an enemy, the USSR, who actually had the potential to do far greater harm than a bunch of Islamist fanatics could ever dream of.

And oh, BTW, the tax rate for the wealthiest Americans under Ike was 90%!

He was followed by a Socially Liberal Democrat who cut taxes, JFK, who is frequently blamed and hated by some on the right, for the troubles that followed his administration.



Dave

Enjoyed the history lesson, Dave. It helps to take a step back for perspective.

Regards,

D-Ray

[noonereal]

Originally Posted by Boreas

And when the top marginal tax rate was 90% we enjoyed an unprecedented rate of growth in our economy and the middle class grew, in both size and wealth, at a rate never seen before or since. All the low top marginal tax rate has done is make the rich richer and increase the disparity between rich and poor.

Yep these folks keep voting against there own best interests in the hope that they will enter the ruling class one day. My question to them is, "how's that working out?"

[merrylander]

Because they are PC and still believe it is Trickle Down' - all the while they are being urinated upon.

[Fast_Eddie]

Originally Posted by Boreas

And when the top marginal tax rate was 90% we enjoyed an unprecedented rate of growth in our economy and the middle class grew, in both size and wealth, at a rate never seen before or since. All the low top marginal tax rate has done is make the rich richer and increase the disparity between rich and poor.

Indeed. Keynesian economics worked quite well and built this nation into the strongest on Earth. But, hey, let's throw that all out 'cause ole' Laffer drew a funny picture on a bar nap. Oh, better yet! Laffer's picture doesn't involve any of that pesky math.

[Charles]

Originally Posted by Fast_Eddie

Indeed. Keynesian economics worked quite well and built this nation into the strongest on Earth. But, hey, let's throw that all out 'cause ole' Laffer drew a funny picture on a bar nap. Oh, better yet! Laffer's picture doesn't involve any of that pesky math.

An argument could be made that the reason that the USA has prospered is due to the fact that at the end of WWII we were the only industrialized nation in the world which hadn't been devastated by the war. Having a strong industrial base combined with technological advances is what made America the richest country on earth, IMHO. This is no longer the case, as industry in the US is increasing competing with foreign industries who will work for less. Free trade is a double edged sword, we get cheap imported goods, but lose the good jobs in the process.

I believe Lord Keynes called for lower taxes and increased government spending to help end a recession. He also advocated refilling the public coffers during good times. Raising taxes. Not too sure how much Keynesian economics have to do with the fractional reserve banking system, but it's a moot point. They're both here to stay.

Any way you look at it, the value of the dollar has been falling like a rock off of a cliff for sometime. In one way it's great, we can pay the National Debt off with increasing worthless dollars. Unfortunately, the people holding our debt are wise to the game. The Chicoms are trying to cash in their supply of dollars for American assets while the buck still has some value. I've also read that they're interested in the likes of GM. Just a thought, but if the UAW thinks working for the suits stunk, how do you think they're going to like their new Chicom masters?

Also, inflation punishes those who have been thrifty and saved their money. The deficit needs to be addressed, not only by raising taxes, but by decreasing spending.

This is not a simplistic issue. I ask, where shall you put your hard earned money, or ill gotten gains...depending on who is looking at your station in life? Stuff it in your mattress, real estate or other hard assets, the market, gold, etc?

Gotta go clean two bathrooms as my wife has invited the "Grand Council" from her side of the family over for Thanksgiving.

I know what my station in life is. Cleaning toilets.

Chas

[Fast_Eddie]

Originally Posted by Charles

The deficit needs to be addressed, not only by raising taxes, but by decreasing spending.

Well, we're pretty close to the same page here Chas. Only problem is, since Reagan, no one can get elected if they even hint they may raise taxes. Obama and Co. are looking for some ways to do it without drawing too much ire. Not sure how this plan to have a tax to pay for Afghanistan will go over with all the poison the Republicans have put in those waters.

Watch what you say Chas. The Republican Purity Committee gets a hold of this post and they'll pull your tin foil hat and revoke your tea party invitation. Raising taxes. Sheesh.

[d-ray657]

Originally Posted by Fast_Eddie

Well, we're pretty close to the same page here Chas. Only problem is, since Reagan, no one can get elected if they even hint they may raise taxes. Obama and Co. are looking for some ways to do it without drawing too much ire. Not sure how this plan to have a tax to pay for Afghanistan will go over with all the poison the Republicans have put in those waters.

Watch what you say Chas. The Republican Purity Committee gets a hold of this post and they'll pull your tin foil hat and revoke your tea party invitation. Raising taxes. Sheesh.

It has long been a republican strategy to try to kill popular programs that they don't like by starving them to death. It's a lot easier to sell people on tax cuts than it is to sell them on cutting programs. Of course they will always get to spend what they want on the military because fear is pretty easy to sell too. Establish that Sadam Hassan is the enemy and they get to invade Iraq.

War appropriations then become the candy store for the military. They get their favorite congressman to throw in financing for all sorts of programs unrelated to the current conflict. Spend enough on military conflict (and military pork) and there is nothing left to spend on anything else without raising taxes, which is a ticket back to the private sector for any one who supports it. Nice little game, isn't it.

Seems like Ike is getting lots of love around here lately, and I sure wish his party would have listened to his warnings about the military industrial complex.

Regards,

D-Ray

[noonereal]

Originally Posted by Charles

This is no longer the case, as industry in the US is increasing competing with foreign industries who will work for less. Free trade is a double edged sword, we get cheap imported goods, but lose the good jobs in the process.

and let's not forget that corporate profits are at an all time high as our country recedes economically. Seems nothing is "trickling down."

If we increase the tax rate on these robber barrons and use the money to rebuild our infrastructure we will all be better off.

[merrylander]

Obama needs to dump Geithner and find someone totally unknown to Wall Street and the Fed. The lobbyista are already bragging that they have killed the Consumer Protection deal, derivatives away we go.