"91% was top tax rate in the 60's" - CNN

[billlll]

On right now

OK now he has gone on to other toPics.

GOod that he mentioned it
Bad that he slammed it with "so much for the good old days"

Blatant RW slant. Velshi the speaker.

Bill Maher mentions it ( 91%) repeatedly.
It would pay the Debt in three years. Totally.

So NO cuts to SS or Medicare are needed.

[Ozymanithrax]

1. You can find that easily...

but it is deceptive. There were so many tax breaks and loopholes that they didn't really pay that much. But it encouraged people with a lot of money to invest it in ways that allowed them to write it off.

[billlll]

2. not so many loopholes that it limited Revenues- Interstates built, Medicare,War on Poverty

All funded. Today (recent "today") Interstate bridge collapses in minneapls from disrepair.

(Interstates in '50's but same tax picture then roughly)

[billlll]

3. about job creation....

Another DUer clears that up well, upsetting the RW applecart totally...----

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9545549

[Ozymanithrax]

5. Yes, I've seen this.

But we were discussin taxes.
that tax rate went from 2952-1963, and dropped 77% ion 1964, the same year they passed teh 1964 Civil Rights act.

Here is a source of tax brackets.

http://www.ntu.org/tax-basics/history-of-federal-individual-1.html

[Hillprop]

4. RA-64 cut the 91% rate down to 70%

so technically the 91% rate was not applicable for the majority of the 60s. The sad thing was even with those high rates we only ran 2 budget surpluses in the 60s, one in 1960 and one in 1969, and even then the '69 surplus was a result of an off budget surplus (on budget was a deficit)..

[JDPriestly]

6. K&R Excellent analysis.