Monday, September 13, 2010

When people, generally anti-tax and government republicans, look with misty eyes on the Eisenhower Presidency about how great things were back then, I like to provide them with this link:

http://www.taxfoundation.org/publications/show/151.html#fed_individual_rate_history-june2010

This is a document that shows the tax brackets each year since the income tax was enacted in 1913. It's a fascinating read. Weren't the 50s under Ike great? No war, the Interstate Highway System (how much of that spending would measure in real GDP compared to the recovery act in inflation-neutral dollars, but I digress), and a warning against the Military Industrial Complex...

And so if you look to the years of the Eisenhower Presidency, take a look at what the top rate was. Just LOOK AT IT!

Over $0.91 on the dollar to Uncle Sam? Well, from what I understand, there were various loopholes bringing the real rate closer to 50%. But still!

And before you right wingers go blaming FDR the Socialist, keep in mind who was in charge of the 83rd congress when the (hard to understand) Internal Revenue Code of 1954 was passed. That's right, all Republicans.

That's right, the Republicans, with the White House, Senate and House of Representatives, certainly could have used that opportunity to lower the top tax bracket...but that didn't happen until...1964? Under LBJ?

Hmmmm, what's wrong with the tidy narrative that the Reaganites and revisionists on the right like to assume? As Gertrude Stein or somebody somewhere probably once said, "There's no there there."

I also have to laugh at nutzoid Glenn Beck for his professed love of Warren G. Harding. However, let's review what happened in the 1920s. The revenue act of 1921 was passed, Harding died (who, really, was running THAT administration anyway?), Coolidge became President, the revenue act of 1924 was passed, time were booming. But was it sustainable? Surely the Great Depression wouldn't have happened if FDR and those liberals hadn't taken over, right?

Only one problem. Hoover was President in 1929 continuing the GOP policies, and the 70th Congress was also Republican controlled. And they had four years to "stay out of the way."

Oops!

And so I have to laugh when anyone proclaims the spending under Obama and the 111th Congress is Socialist. Really? Show me some Historical numbers. Back that shit up, 'yo!

No comments:

Watch this space

If FB decides to reinstate the account of the former "president" tomorrow, I expect an uptick of activity here for random updates ...