quote:The best 30 years in our history were from 1947 to 1977 when the top marginal tax rate on income ranged from 91% in 1947, to 70% in 1977, with no distinction between wages and capital gains, "unearned income"! ...we were the number one supplier of all types of consumer goods to the whole world until Japan and Europe recovered from WW2, but also because owners put profits back into their companies to avoid paying those high income tax rates.
Since Reagan and Bush got top marginal rates down as low as 28% the rich have not had restraint on what they paid themselves. The rich have had over 10 years now to benefit from Bush’s tax cuts but where are the jobs they should have created? The only jobs they created were in Mexico or China or Southeast Asia! ...allowing the corporations to get out from under American wages and benefits and to take advantage of slave labor outside our borders..."