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To: SeekAndFind

Agree. During WWII fed tax rate for the top bracket was raised to 90%. However net effective tax rate was only about 15%. Which is about what it is now.


8 posted on 12/04/2012 7:25:34 AM PST by snoringbear (Government is the Pimp,)
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To: snoringbear

Also, Democratic folklore includes the myth that the Clinton tax increases led to the 1990s boom.

In fact, the Clinton tax increase on those with incomes above $400,000 in 2012 dollars SLOWED the economic recovery that should have been gaining strength due to the end of the Cold War and the restoration of price stability for the first time since 1965.

The Clinton boom was delayed until his second term when he listened to Dick Morris and TRIANGULATED. He all but adopted the Gingrich Congress’ agenda as his own, even making his “THE ERA OF BIG GOVERNMENT IS OVER” speech in his SOTU 1996.

In his second term, we had barriers to international and domestic trade lowered by the reduction of tariffs under the North American Free Trade Act, welfare reform, and a cut in the capital gains tax rate.


9 posted on 12/04/2012 7:28:36 AM PST by SeekAndFind
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