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Don't They Know There's A War On?
By randyholhut (about the author) Page 2 of 2 page(s)
This nation used to increase taxes when it went to war. The top personal tax rate during World War II was 94 percent on all income above $70,000, or about $753,000 in today's dollars. Besides helping to pay for the cost of the war, it also succeeded in redistributing income and helped to create the postwar middle class. Now, thanks to all the "reforms" to the federal tax system over the last 25 years, the top individual tax rate is 35 percent. The wars in Iraq and Afghanistan have overshadowed economic issues in the ongoing presidential campaign. But given the pain people are feeling — pain that will only get worse as the nation's housing market starts to collapse under the weight of millions of shaky mortgages that will never be repaid — is real. And working Americans want solutions, not lip service, for an economy that is growing more and more inequitable and a war that is draining our treasury while the fat cats get fatter.
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