Yes, that is when it was realized that there is a limit beyond which taxation is no longer constructive. However, the rates discussed here do not come close to that point, not by a long shot.
Wow! Thanks for that. I did not realize that there were so many decades of such a heavily progressive tax system. Who knew that the US was a socialist country all through the Cold War, lol.
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Here is the history of the US tax system.
http://www.ntu.org/main/page.php?PageID=19
Northern Europe in the 70s and 80s that would qualify as heavy taxation.
Ah, you mean when their economic growth came to a standstill...
This morning on CNN Brian Moore, Socialist candidate for president, said Obama is a Capitalist, not a Socialist in any way, shape or form.
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