Wednesday, March 4, 2009

Taxes in context.

Let's just put all those right-wing howls about Obama's "socialist" tax hikes to bed, shall we? Here is a chart that shows the top tax rate through U.S. history:
That's right: the top tax rate under Eisenhower (that socialist!) was 90%. Under Nixon (socialist!) they were 70%. For most of Reagan's (socialist!) administration they were 50%.

Obama is talking about raising them back to 39.5% -- same as they were all through the '90s, and still much lower than they were through the boom years of the '50s and '60s.

Seriously. Aren't we all getting just a little tired of these right-wing scare tactics?

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