Quote:
Originally Posted by long isle
The great depression was a very prosperous time for all. You are correct though that the early 50's was a great time to be an American when the wealthiest Americans paid a fair share of their income in taxes.
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Those high taxes also applied to the poor, who paid at least 20% income tax, as opposed to now, when these same people pay nothing. And there were a dozen or more loopholes for avoiding those "fair share" taxes, which didn't go away until the Reagan administration.
That being said, Trump's tax plans are not what I would choose. The carried interest exemption does need to go away, but I wouldn't reduce taxes on the wealthy like he's proposing. Not ideal, but I'll put up with it to address the bigger issues.