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Wednesday 30 December 2009
Taxes: Let’s Just Go Back To A Simpler Time

Are you concerned about the country’s large budget deficits?  Are you wondering how we are going to pay for two wars, bank bailouts and economic recovery projects while continuing to maintain our roads and bridges and pay for our schools and police and firefighters?  Are you wondering what we can do about the great concentration of wealth and income into the hands of a very few at the top?

There are so many budget problems.  It would be so nice if we could just go back to a simpler time.

Well there is something we can do to solve most of these problems in one fell swoop.  We really can just go back to a simpler time.  Why don’t we just go back to the income tax structure that we had back when budgets were balanced, our infrastructure was maintained, our schools were good, the economy grew at a nice, fast clip and the middle class knew that their incomes would grow steadily?  What I am suggesting is that we just return the income and corporate tax rates to where they were during the Truman, Eisenhower and Kennedy administrations.

After these “golden years” we cut those top taxes and things started to fall apart.  Then we started borrowing to make up for the lost revenue and even borrowed all of the money in the Social Security Trust Fund.   We deferred maintenance of our infrastructure of roads and bridges, etc.  We cut school budgets.  We cut … well almost everything except what the richest were taking home.

15 notes

  1. wygit reblogged this from tanya77
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  4. moorewr reblogged this from jhnbrssndn and added:
    It’s no good. He’s on vacation. Also, under Kennedy, Congress cut the maximum tax rate quite a bit - in a well received...
  5. jhnbrssndn reblogged this from azspot and added:
    Jeff? JEFF! Dinner!
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