Electile Dysfunction (Current students plz look!)

[G.Irish]

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.

Sent from my Pixel 2 XL using Tapatalk

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!"

That's a key point that is missing from how the modern GOP is approaching taxes. If you want to cut tax rates when the economy is down, great, that makes sense. But they continue to cut taxes when the economy is booming, particularly taxes on the wealthy, all while not cutting spending.

So when the next economic downturn inevitably arrives, there'll be even more tax cuts and it'll be a nitrous shot to the ballooning national debt.

Now some of that may be intentional in that if you drive debt up to the point that it's a crisis then you can say, 'we MUST get rid of social security, Medicare/Medicaid, welfare, etc.'

Sent from my Pixel 2 XL using Tapatalk