Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 month ago

Republicans: During the 1950s, we had a 92% income tax for our highest earners. What changed?

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  • 1 month ago
    Favourite answer

    The GOP lost its soul.

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  • 1 month ago

    President John F. Kennedy recognized that high taxes were hindering the U.S. economy. To remedy the situation, he proposed across-the-board tax-rate reductions; the top tax rate, for example, was slashed from 92 percent to 70 percent. Said Kennedy: "In short, it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now." Result: As a result of Kennedy's tax cuts, the federal government's tax revenues climbed from $94 billion in 1961 to $153 billion in 1968, an increase of 62 percent. 

      Question now is why did Democrats change?

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  • Anonymous
    1 month ago

    The rich took over and the right fell in love with the antichrist.

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  • 1 month ago

    That number was absurd. Our tax system is still absurd. We need tax cuts and tax reform. 

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  • Anonymous
    1 month ago

    Well, that Republican tax plan of Eisenhower's got changed by Reagan in the 1980's with his "trickle-down economics" (just another name for "horse and sparrow economics") that he branded as the Republicans' new tax plan. Unlike Eisenhower, who would not be co-opted by America's wealthy, much of his farewell address actually aimed at warning against that, Reagan wasn't just co-opted by America's wealthy-- he stripped naked, jumped in bed, and lubed up America's butt so that he and they could take turns screwing America. 

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