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

[John Wesley]

Excellent idea, but I'm afraid that quite a bit of blood will have to be spilled 
and cops' skulls broken before we'll ever see the top income tax % rates 
restored even to immediately pre-1981 (Reaganomics) levels (they stood at 50% 
just before the "man who ended the Cold War" took office! - lol).

All of the events that have taken place in WI up to now are really just little 
cat and mouse games that don't really threaten those in power.  Income tax rate 
reduction is something that most definitely would be such a threat.
Mike G

Mike G

________________________________
From: martin schiller <mschiller at pobox.com>
To: lbo-talk at lbo-talk.org
Sent: Thu, April 7, 2011 1:16:39 PM
Subject: [lbo-talk] Back in the day ...

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
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