|
Edited on Sat Oct-25-08 04:21 AM by jpgray
Eisenhower! Income tax rate for the top bracket: 91%. No rich people must have existed at all! The middle class must have been those who were victorious in battles over the bones and viscera of the wealthy.
Nixon! Income tax rate for the top bracket: 70%. Perhaps some of the boarded-up vacant mansions attracted a buyer or two, doubtless in the form of time shares.
Reagan! For three quarters of his presidency! Income tax rate for the top bracket: 50%. Small business must still have been non-existent at this point.
At last, Ronald saw the light in '86 and defeated the commie part of this nation's soul, lowering the top bracket rate to 38.5%, opening the way to the stable and prosperous late eighties! Further decreases to 33% were presided over by GHWB, which certainly should have led to astonishing prosperity. Clinton's "dead cat bounce of socialism" returned us to 39.5%, amidst a total economic collapse, no doubt. Finally, our current resident knocked us back to 38.6% and finally 35%. Clearly, these are the best of times.
|