The highest tax rates were during World War II and Korea. Is that what you have in mind to create jobs: draft everyone into the Army?
If you want to create jobs, who will provide jobs: the rich who invest in companies that employ people? Or the poor, who just barely get by?
If you don’t understand then you don’t need to be commenting on it b/c it is the crux of prosperity. When taxes were that high, we were involved in 2 wars. It’s easy to create jobs when a large chunk of the population is involved in manufacturing for the war or drafted to fight the war. After the Korean War ended in 1953 we began to have a drop in taxes and more prosperity.Not sure what that has to do with the subject, but back to the topic at hand. When the wealthiest Americans were being taxed between 90 - 93% they had no problem creating jobs, and they have no problem doing it now after massive tax cuts. Yet unemployment has only grown (admittedly it hasn’t grown a whole lot in the grand scheme of things, but sure hasn’t gone down). Once more, just because you have more money in your pocket doesn’t mean you’re going to spend it. It certainly doesn’t mean that you’re going to go create another job. Trickle down looks good on paper but in practice really hasn’t played out.
Actually we had a rather big recession in the late 1950’s The only reason why it wasn’t worse than it was ,was beccause money was still backed by gold at that time.If you don’t understand then you don’t need to be commenting on it b/c it is the crux of prosperity. When taxes were that high, we were involved in 2 wars. It’s easy to create jobs when a large chunk of the population is involved in manufacturing for the war or drafted to fight the war. After the Korean War ended in 1953 we began to have a drop in taxes and more prosperity.
A standard we need to quickly go back to.Actually we had a rather big recession in the late 1950’s The only reason why it wasn’t worse than it was ,was beccause money was still backed by gold at that time.
I would actually argue that a competing currency would be the best currency, because gold all alone can have problems because it is too easy for the government to try and control it. But if banks were allowed to back paper with anything, the market would pick what is best at a time.A standard we need to quickly go back to.
No it was a random assertion based on numerous assumptions. If you think that acknowledging the fact that putting the wealthy into a hight tax bracket doesn’t destroy the economy means one must support war, then perhaps I’m not the one who should not be commenting.If you don’t understand then you don’t need to be commenting on it b/c it is the crux of prosperity. When taxes were that high, we were involved in 2 wars. It’s easy to create jobs when a large chunk of the population is involved in manufacturing for the war or drafted to fight the war. After the Korean War ended in 1953 we began to have a drop in taxes and more prosperity.
Where did I say you need to support war? Please show me. Let me help you out: I didn’t. If you can’t comprehend what I was clearly saying, then please refrain from commenting.No it was a random assertion based on numerous assumptions. If you think that acknowledging the fact that putting the wealthy into a hight tax bracket doesn’t destroy the economy means one must support war, then perhaps I’m not the one who should not be commenting.
GO read a history book.Anyway your observation on the 50’s is only partially correct. Taxes did go down for the average person. However, they were exceptionally high for the wealthy up 93% on the higher end of their earnings. And yet we had more prosperity, as you said.
Don’t try sensationalize or bring up events that aren’t even being discussed and you may avoid these sorts of problems. But that is something I’ve come to expect from those of this particular economic bent.Where did I say you need to support war? Please show me. Let me help you out: I didn’t. If you can’t comprehend what I was clearly saying, then please refrain from commenting.
So it is your assertion that these things didn’t happen? Denial doesn’t actually change reality.GO read a history book.
You need to learn a word called perspective. YOU brought up 93% tax rates and a good economy. YOU failed to put that in perspective by mentioning we were involved in two wars during the time of those tax rates, which will help the economy no matter the tax rate. You also failed to mention that after those wars were over and after we dropped the 93% tax rate, we still had steady economic growth. I have not sensationalized anything and I challenge you to show me where I did.Don’t try sensationalize or bring up events that aren’t even being discussed and you may avoid these sorts of problems. But that is something I’ve come to expect from those of this particular economic bent.
So it is your assertion that these things didn’t happen? Denial doesn’t actually change reality.