[lbo-talk] Back in the day ...

[martin schiller]

When, in the '50s, the tax rate for the top earners was over 90%, the design of the tax system encouraged investment in gov't debt. Investment in municipal and federal bonds may well have been the only exemption vehicles. Seems to me like a proposal to return to that kind of system, at a time when 'tax the rich' is favored by >80% of the pop., would find popular support. It would protect personal wealth while putting that wealth to productive purpose (win/win), and reduce/eliminate ownership of USG debt by non-native powers.

martin