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Think Obama´s Tax Hikes
Are Low Compared
With Rates Of The
1950s? Think Again

Investors Business Daily, by Amity Shales

Original Article

Posted By:Desert Fox, 1/4/2013 8:31:29 PM

Of course, 2013 will be fine, because the 1950s sure were. That´s the premise for the coming year, especially in regard to the agreement in Washington to raise tax rates on the well-off. In the 1950s, after all, tax rates were far higher than what the House and Senate have agreed on, a top rate in the high-30% range. Back then, they were even higher than what President Barack Obama might have proposed, if left to his own counsel. Republicans in that era went along with the idea that high rates took something away from the rich and


Post Reply  

Reply 1 - Posted by: JediJerry, 1/4/2013 8:54:13 PM     (No. 9099261)

In this case, "well off" really means anyone with a job will have their taxes hiked one way or the other. Oh yes, propose more than you really want, then "compromise" and take what you really wanted in the first place.

Reply 2 - Posted by: PageTurner, 1/4/2013 8:55:05 PM     (No. 9099262)

Another Obama lie - blown to smithereens.




Reply 3 - Posted by: horacer, 1/4/2013 8:56:20 PM     (No. 9099265)

Ms. Shlaes is beautiful and brilliant. Directional stability is the crucial component of tax policy. It´s not necessarily the amount taxes change, it´s the direction.

Reply 4 - Posted by: chance_232, 1/4/2013 10:07:46 PM     (No. 9099345)

Something else frequently overlooked is that the US benefited from the fall out of WWII. Most of the industrialized world had either experienced massive devastation or significant losses due to the war. Europe, Russia, Japan etc were in a shambles. The only manufacturing base to survive the war intact was in North America. If you wanted raw materials....the US. A machine...the US, Clothing....the US.

During the 50´s, the US economy was going to boom no matter what the government did. The US held a near worldwide monopoly on technology and finished materials. We could do that today, but we would have to nuke China, Singapore, Vietnam, Korea, Japan, Taiwan, Mexico etc first.

Reply 5 - Posted by: BaseballFan, 1/4/2013 10:20:41 PM     (No. 9099364)

Today I received an email warning from my employer to ensure that each and every pay stub is reviewed for accuracy, paying close attention to the deductions made for social security, which has been increased by 2.0%.

Curiously, the email pointed out that the increase was "IRS mandated".

/s on/
I´m checking back on my ballots for the past several years... my elected representative to the IRS is certainly going to hear from me. /s off

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