Thursday, February 17, 2011

Tax You Very Much

FDR has a long-standing reputation for having strongly supported the "working man". And, yes, in many ways, that's probably truthful. But it wasn't at all completely the case. For instance, in 1929, the total percentage of revenue that came to the federal government via excise taxes (a highly regressive tax that disproportionately hammers the poor) was just a scant 19% (the other 81% coming in the form of individual and corporate income taxes). By 1936 (the end of FDR's first term), the percentage had grown to a robust 52%. And, while, yes, by 1940, he did get it down to 47%, that's still a massive 250% increase......................................................................................................Now, to be fair, it was actually Herbert Hoover (not exactly an icon to the right, it must be stated) who began this trend. But Mr. Hoover only brought the percentage of total revenue coming from excise taxes to 30%. It was FDR who eventually brought this percentage up to monstrous 61% (undoubtedly a crushing burden on the working poor) by 1934. That, to me, friends, doesn't at all sound like a compassionate policy, period.

2 comments:

Beach Bum said...

FDR's handling of taxes is an unknown factor for me but something else had to be at work for him to get reelected all through the 30's.

Then again it may have been the people back then who actually gave a damn about the hardships others faced and didn't get shrill screaming for tax cuts.

Will "take no prisoners" Hart said...

It's funny, double b, I'm probably the only person on earth who thinks that Reagan and FDR were BOTH overrated....and that Bill Clinton probably had it about right. Go figure, huh?