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under FDR it was 91%, Under JFK and Cater, 91% to 70%, then Reagan came in and cut it to 28%.
Reagan started the full out war on the Middle class, with unfunded mandates forcing States, Counties & Towns to raise taxes to make up the difference.
PATCO strike accelerated the erosion of Labor rights, it was an attack on Labor & Labor Unions.
Reagan doubled payroll taxes, effectively shifting tax burdens to the working and middle classes, from the wealthiest.
Progressive taxation engages the working and middle classes in the economy, regressive taxation taxes families out of the economy.
28 yrs of regressive taxes have seen 28 yrs of median individual income not keeping up with inflation, but thats just a mere coincidence, move along, nothing to see here.
Obama is moving towards tax progressivity, but if the economy really starts to falter, it'll need shock therapy, he'll have to go back to the 70% rates. Good on Obama but it doesnt bring true tax fairness back, its just not as unfair.
From the 1930's to the late 1950's the top rate was 91%, and still 70% untill Reagan came to office, that does need to be reversed.
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