Some U.S. Historical Tax Rate Graphs

One can see fairly easily that the crash of the stock market in 1929-30 and its tax rates and those of the 2007-2008 recession era tax rates are nearly the same. Interpreting data is difficult for some to do accurately of course. Some quants have a good sense of computer progreamming and math formulae about that sort of thing-while others crash.

http://visualizingeconomics.com/2010/02/04/historical-marginal-income-tax-rates/Â

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213

Abraham Lincoln began the income tax to pay for the civil war of course. President Bush II just charged the war and cut taxes and what a fine mess we have today. The quant-math global e-market algorithm traders view corporations and Americans as abstract quantities for sale or downgrading. In fact the entire nation requires an F.D.R. quality rectification of capitalism through new regulation-yet it won't happen probably. Dumber and Dumber is the way it goes today.

Comments: 6 ( 1 removed by Gary C. Gibson )

Larry M. Jul 29, 2011, 5:53pm UTC

Those are some great charts. I especially liked the one showing the top one tenth of one percent's percentage of all income plotted with the top marginal tax rate for those same years from 1914 to 2004. Our greatest period of sustained economic growth (1944-1974) during that period had a tax rate of over 50%. Somehow high taxes for the rich did not stop economic progress. On the other hand, the tax rates were low immediately before the Great Depression and our most recent mess.

I don't think that's a coincidence.

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Debby C. Jul 29, 2011, 6:45pm UTC

looks like a lot of folks will NOT be re-elected in the next election

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Steve Bachman Jul 30, 2011, 7:10pm UTC

"As a rule, capitalism is blamed for the undesired effects of a policy directed
at its elimination. The man who sips his morning coffee does not say, "Capitalism has brought this beverage to my breakfast table." But when he reads in the papers that the government of Brazil has ordered part of the coffee crop destroyed, he does not say, "That is government for you"; he exclaims, "That is capitalism for you."
— Ludwig von Mises (Interventionism: An Economic Analysis)

"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."
— -Murray N. Rothbard

Gary C. Gibson Aug 1, 2011, 8:30pm UTC

Rep. Waxman to Greenspan; "You found a flaw in the reality?"

Greenspan to Waxman; "A flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak."-at a 2008 Congressional hearing

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Marilyn M. Jul 30, 2011, 7:26pm UTC

Since FDR the government has spent $1.17 for ever dollar they took in. Under Obama it's more than that. It has never mattered how much revenue we have, the idiots in Washington always spend more than we have.

It's been shown that if they took every single penny from everyone making over $250,000 it would barely bail us out and if the idiots didn't change their spending ways, what would they do after that?

Gary C. Gibson Aug 1, 2011, 8:27pm UTC

The Federal debt has been paid off a few times since F.D.R. The present outstanding federal debt is the reason the total is out of balance.

That federal debt grew prevalently since the Reagan administration and especially during the Republican congress during the Clinton years and then during the Bush II administration.

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Some U.S. Historical Tax Rate Graphs

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