Monday, April 20, 2015
On the Fact that FDR Actually Proposed a 100% Top Tax Rate (On Everything Over $25,000 a Year)
Did the man simply not realize that once you instituted something like this, nobody in his or her right mind would ever want to make beyond that amount in the future (because, HELLO, you'd be giving it all away) and the end result would be zero additional revenue? I mean, I know that politicians are greedy and stupid and all but for the country to have actually had one THIS stupid is frightening....A 100% top tax rate. Wow, huh?
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5 comments:
How much is $25,000 in todays money?
Very greedy.
Oh I see crawlspace boy is bombing Constitutional Insurgent's blog with unwanted spam stuff.
How long before Dervish canards up a few of his own new fan blogs: more mancrush shrine blogs devoted to CI?
Anyway, all this would have done is force people to move their wealth... their property... that that they worked hard to create... overseas to a less greedy country. Would have meant more unemployment as this would have drained away money that would have been invested in American businesses.
Do you think it might have caused a much worse depression, Will?
I think that Hoover and Roosevelt both did things that made the Depression worse (as opposed to Harding who acted intelligently in 1921).
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