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I believe in the United States of America as a government of the people, by the people, for the people; whose just powers are derived from the consent of the governed; a democracy in a republic; a sovereign nation of many sovereign states; a perfect union, one and inseparable; established upon those principles of freedom, equality, justice, and humanity for which American patriots sacrificed their lives and fortunes.
I therefore believe it is my duty to my country to love it; to support its constitution; to obey its laws; to respect its flag; and to defend it against all enemies.
That’s what I find amusing about the people that post this video. They want to go back to the 1940-50s when we were more “free.” Yet those were the days when the tax rates were more than twice what they are today and it wasn’t even considered socialist or communistic. Ignorance is bliss.
Correction, 99% paid a marginal tax rate of 16.6% on incomes below $4000. So again I don’t see how this is “socialist.”. If anything, it means 99% had the same tax rate… a progressive nightmare scenario.
(When the income tax was first voted in, under Woodrow Wilson, 99% didn’t pay anything. The real lesson is to not let the camel get it’s nose inside the tent.)
Exactly. There was nothing socialist about it. That was my whole point. The top tax rate was 82% and there was no socialism. For every doofus on the left, there is a doofus on the right. Welcome to club Todd H. You’ve been a long-time member.
That old YouTube video is pretty corny, but still on target.
I liked the bit about: “Where’s your warrant, FlatFoot !”
Very applicable to our airport TSA overseers today.
There are various degrees of socialism, which confuse most Americans. High taxes are one tool of socialism, but are a favorite tool of rulers anywhere.
Fundamental socialism is a utopian ideal intended to “fairly” allocate economic resources in society. Its theoretical mechanism is a core of wise & selfless central-planners/governors, forcibly directing the economy to a better world.
Pure Socialism is about who gets the goods and how. Socialists object to free markets because voluntary markets & exchanges are believed to ‘unjustly’ allocate resources across society. Noble socialist rulers are necessary to keep things fair.
Creeping-Socialism is what America has today, and it’s creeping fast. ObamaCare is pure idealistic socialism, but the overall governmental trend focuses more on full parasitic ‘control’ of all aspects of society thru constant surveillance and aggressive, comprehensive policing of the populace.
@ Retired at 40: No one paid those 80% plus rates. There were so many ways to shelter income throughout these periods. Even when Reagan dropped tax rates drastically for the top brackets, government revenue didn’t drop. Why? Reagan closed the tax loopholes like limited partnerships. Also, the AMT was established then to ensure that the wealthy couldn’t avoid taxes with various tactics. The government finally realized in 1986 that the wealthy were able to legally avoid most taxes. Simply looking at the highest rate doesn’t tell the whole story.
#12 Kirk) In 1948, there were 24 different marginal tax brackets for Married Filing Jointly. The lowest was 20% tax on income from $0 to $2k (after deductions). The highest was 91% tax on income over $200k (not inflation adjusted).
In fact, in 1948, six of those brackets were over 80%. Also, in 1948, nineteen of those 24 brackets are higher than today’s highest rate.
We had 90+% marginal brackets from 1944 through 1963. In 1943 the highest bracket was 88%, in 1964 the highest bracket was lowered to 77%.
I don’t see how you can claim “no one” was paying those rates — you need to backup your statement with some facts.
JLP said) “Yes, an 82% tax rate is horrible.”
No it’s not, when you realize they were paying for very expensive world-wars, and didn’t want to pass the debt on to their kids — unlike the baby-boomer generation of today.
The old health care system was looking more and more like fascism, then. Obamacare no doubt looks like
socialism to those who still HAVE traditional
health insurance plans, no matter that those plans
wouldn’t have been/won’t be around much longer.