THE SOCIALISTS
Driving home I was listening to some Obama socialist drivel by some right wing nut job - to set the record straight on tax rates and where they have been:
Under the Socialist Richard M. Nixon - the top rate on dividend and interest income was 70% and on "earned income" such as salary it was 50%.
For most of Socialist Ronald Reagan's Presidency, - the top rate was 50% and came down to 38.5% toward the end of his administration- but with the lowered rates came fewer deductions and non deductible losses from real estate operations and other "tax shelters".
Bill Clinton had a top rate of 39.6% for most of his boom years while for 2008 the top rate under dubya is 35% for folks making more than $358,000-
So if you want/need to call Obama a socialist you better lump him in with Reagan and Nixon.
posted by DAVID at
6:47 PM
3 Comments:
You can lump big government spending in their as well. The only President to reduce spending was Bush Sr., but that number could be off due to the lack of growth.
Then their is the whole 'liberal' thing. That makes me bang me head against the wall....
Read "Empire of Debt" by William Bonner if you want to know where we are headed...hell, we're basically there. Once other countries quit buying our debt, it's bye bye America. It appears to be happenning before our eyes..I was hoping we'd get a reprieve for a few generations.
YUP- right in front of our eyes--
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