02-18-2019, 03:30 PM
(02-18-2019, 03:26 PM)G.Irish Wrote: I mean if you wanna cherry pick 3-4 years out of 40+, be my guest. Point is that the sky didn't fall, rich people didn't commit mass suicide (except for cocaine overdoses), and a lot of people point to that time period as 'when America was great'.
I don't think the top marginal rate needs to necessarily be that high, but it should be higher than it is now, and there needs to be a mass reduction in the amount of tax loopholes. Maybe just burning it all down and going to FairTax is the answer but the current tax code is Swiss cheese.
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My point was more that period was the end of America being the only country that didn't have their economy literally bombed to death, and giant-ass tax rates didn't help when that gravy train ran out.
Keynes was right, even if it's the part everyone forgets: You can maybe spend yourself out of bust as long as you save during the boom.
Which, since no nation does, ends up just being a "Hey no problem we can spend our way to prosperity, yeehaw and cowabunga!"
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