How did USA survive all those decades ago when the rich had super high tax rates?

Question

How did USA survive all those decades ago when the rich had super high tax rates? like 70% or even 90% top marginal income tax rates, estate taxes, where corporations paid higher taxes.....and where there was strong regulations in place to control banks and wall street from spinning out of control and taking our...

Answer 1

They had super high deductions and loopholes. Nobody ever paid 90%. Why you can't compare historic tax rates meaningfully.

Answer 2

Notice it was only 70% for the top part of their income - not all of it as many people try to incorrectly suggest.
But during Clinton taxes were higher, but we had a stable economic base and a balanced budget which gave us amazing buying power overseas. Our economy and stock market has never been better.
Then Bush took over - lowered taxes BASED on there being a "BUDGET SURPLUS" (his words!!!) so this Neocon myth that the economy had already gone bad is just a ludicrous lie - and the entire economy went to hell within weeks.

Answer 3

ok, permit me understand this.....you particularly mentioned that 1936, 1937 and 1938--for starters--had the "maximum appropriate financial gadget ever?!" you particularly mentioned that, during those years, that "our u . s . a . frequently talking thrived in that factor era ....human beings enjoyed the utmost known (i'm going to in straight forward terms anticipate that become a typo however from what you're writing, i'm no longer so particular.) of residing?!" You do be responsive to that there become a sprint ingredient talked approximately as the super melancholy during that factor, striking? there have been different depressions for the time of our countries background, yet never as undesirable as then, that's why that's talked approximately as the super melancholy. You do be responsive to that the financial gadget become worse in 1938 than whilst the melancholy began in 1933, striking? You do be responsive to which you are going to no longer be able to evaluate wartime economies to peace time economies because of the fact the financial gadget during wartime may be greater suitable because of the fact the artwork tension is generating units of warfare 24/7 yet which will all end as quickly because of the fact the warfare ends and function thousands and thousands further to that's artwork tension with the protection tension coming living house and turning out to be a member of the civilian inhabitants, striking? further, your use of the be conscious "like" in the past naming tax possibilities potential which you have be responsive to clue as to what they even have been because of the fact, because of the fact something of this question factors out, you're making all this up because of the fact the two somebody, who's additionally misinformed instructed you, or given which you elect for to have confidence this. this is ridiculous. do a sprint prognosis and get returned to us.

Answer 4

easy,there weren't but a handful of millionaires.and far less people.the poor actually paid taxes and there wasn't any welfare.maybe your right,we should go back to that.what say you?

Answer 5

Yep.

You mean back before JFK cut taxes for the Rich?

I think you should study North Korea, where there is no Rich.

You seem to have a "hang up".

The Rich don't bother me, since I work for a Living.

I enjoy working for the Rich, who pay me very well..

Welfare Democrats Hate the Rich. Cool!!!!!!!!!

Answer 6

real simple,all their $$ went offshore.you twits still do not get it,the rich stay rich by beating the dumb asses.give it up dude.no rich ,no jobs.what part of capitalism do you not understand....

Answer 7

"chirp, chirp" went the Republican crickets...

Answer 8

A lot of loopholes.


Next time don't post the superfluous drivel, thanks.