Parry On Taxing The Elite

Parry will take you through a concise history of how the rich got to be less taxed.

The main proponent of reducing taxes on the rich and the president who kicked it all of but good - Ronald Reagan of course.

The result of Reagan's malfeasance - the erosion of the middle class.

This is a good article to carry under one's belt when the taxing the rich question arises in a conversation with your low information conservative friends.

Consortium News: The One Answer: Tax the Rich

During Dwight Eisenhower’s presidency the top marginal tax rate – what the richest Americans paid on their top tranche of income – was around 90 percent. In the 1960s, under John F. Kennedy, that was lowered to around 70 percent, but that rate still meant the rich had a limited incentive to be greedy since they wouldn’t get to keep most of their extra money.


...in his (Buffett's) category (the rich) get to keep about 80 percent of what they make.


That has been replaced by a society of the greedy rich (surrounded by fairly well-compensated staff, including media and political propagandists) and then the rest of the country, facing lost employment, lost homes and lost hope.


The simplest answer to this national crisis would seem to be the restoration of the tax rates of the 1950s or the 1960s – as politically difficult as that might be.