Who Were The Real Socialists?
Posted by Webmaster
[This entry was cross-posted on Facebook. It’s rather informal.]
I made a comment recently in one of my classes recently saying that, yes, I believe the tax rate for the highest earners should be 40% in order to pay for social services and other government services. This elicited surprise from some, but is it really so surprising?
Obama’s “tax increase” isn’t so much of one as it is rolling back a tax break for the rich instituted by Bush immediately after the Clinton Administration, which had the tax rate for the highest earners at 39.6%.
Let’s take a look at some facts from history.
-IRS information regarding tax rates is available from 1913 to 2009, a span of 95/96 years.
-Since 1913, we have had 17 presidents: 8 Democrats, 9 Republicans.
All eight of the Democrats had tax rates of 39.6% or more as did seven of the nine Republicans.
The highest tax rate, of 92%, belongs to Democrat Harry Truman. However, this tax rate also carried over into Republican Dwight Eisenhower’s term. Oh, sorry, no…like a true conservative, Eisenhower lowered taxes.
GOP President Hoover, after years with a tax rate of 25%, decided, “Hey, what the hell, let’s tax people 63%” right before leaving office. That’s anincrease of 38 percentage points. The increase by the Republican is higher than the actual tax rate now (35%).
The United Socialist States of America? Perhaps. (Credit: Bill St. Clair)Since the post-World War II period, the maximum tax rate has trended downwards, but remained high even amongst the staunchest conservatives:
Taxes for the highest-earners hit a 77-year low with Bush Senior at 28% and was then increased to 31% and subsequently 39.6% by Bill Clinton. Bush Junior then immediately enacted the tax break that set it at 35%.
So compared to historic levels of taxation, by both Democrats and Republicans, of levels beyond 60, 70, 80, even 90%, why is Obama the socialist?
In fact, “socialist” Sweden’s maximum tax rate right now is 59.09%, while Denmark’s is 63%. By that logic, those states being considered “socialist”, Woodrow Wilson, Herbert Hoover, FDR, Harry Truman, Dwight Eisenhower, JFK, LBJ, Richard Nixon, Gerald Ford, and Jimmy Carter were also socialist presidents. Oh no, that means 10 of our last 17 presidents have been pinko Commies!
It must be all part of a vast left-wing conspiracy to infiltrate America and bring the United States under strict authoritarian rule, right?
Those damn lefties, they’ll ruin us with their taxes, just like they caused the downfall of the United States all those other times. Better start moving to Monaco, people.
(Say what you will about Wikipedia, but all the information I used from those articles is clearly cited from a reliable source.)