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Well, my look at it suggests it was higher then, for all classes of society. And we balanced the budget and we did not descend into socialist dictatorship. Going back to those levels, with some intelligent, bipartisan cutting would probably balance the budget again. The Bush presidency kicked in unsustainably low tax rates, along with a huge ramp up in spending. A disaster ensued. The chart does not include Obama-it stops at 2007, but I suspect he maintained the same disastrous tax rates. But if Obama tried to actually balance the budget by dumping those tax cuts, he would be called a socialist. Just ridiculous.
What is your point?
We did not have a budget until 1914, which was a year of "tax and spend" by the only Congress and White House more conservative than the incoming crew.
And afterwards, we had no social spending to speak of. It wasn't until we needed something to do with all the unemployed men in the nation that funding public projects became a priority.
It is not clear to me that President Obama would have been able to veto the extension of the Bush-era tax cuts. Just getting Republicans to stop shutting down the government was exasperating enough.
America would do well with a 97% cut in taxes - and - cut in the Federal budget.
Some of us would do well, but anyone that was middle class or lower would be in a world of hurt if the country reduced taxes by that much.....also to do that, should we reduce the US Military by that amount too?
Without 97% of their operating funds you would not be whining about the DMV, IRS or anything else, you would be too busy fighting for your life.
Hahahahahaha
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