Do you know what the top marginal income tax rate was under Republican President Dwight D Eisenhower?

@pdqsailor1

I didn't even get a chance to answer. 😤

@calicuz You snooze you loose.

@justanothername

I didn't want to answer his question anyways!!!

@calicuz Mmm sure…

@calicuz No one really figured out that it was not a question.. it was an observation. America was a more prosperous MUCH fairer place in the time of FDR, Truman, Eisenhower - a radically progressive and practical man, Kennedy.. we are talking some of the most significant periods of progress for the Country.. The top marginal tax rates were only part of the story the distribution of income - what a top manager earned compared to workers was far more in line then.. than now.. People were not indentured servants.. Everything was possible, education , health care, home ownership.. Luxuries.. were not very common.. but people were lifted up and there was a real middle class in America.. Values, marriage, religion, respect... were largely in place...

@pdqsailor1 And there is no reason that progression of society could not have continues until today..The wealthy profited more from the nature of American society and therefore paid more taxes on the extra earnings they made. It was a just system...😷

@whowasthatmaskedman Eisenhower contemplated a capped upper income.. beyond which there would be 100% taxation.. the rational being that no individual required or should have an income beyond X dollars..

@pdqsailor1 And I wouldnt agree with that on the basis that it destroys incentive.. Lets say 70 to 75% maximum..Equally, double taxation is wrong. If you live off the dividends of companies and those companies pay tax, your tax should be discounted to account for this.😷

@whowasthatmaskedman The issue of double taxation is dealt with in Canada for instance with a dividend tax credit that takes into account the corporate taxes paid.. Eisenhower was not looking at incentive he was looking at what a person was entitled to and he felt there were limits ... this did not stop their often owned corporations from retaining those earnings in the corporation and becoming more valuable - increasing the value of their shares.. it simply said from a personal perspective.. there is a limit to what a person needs or should earn.. Remember this never affected employees - it affected owners of large businesses..... and of course they got round it by paying every family member a salary to dramatically increase available personal income.. Make a rule - a tax lawyer and a tax accountant will drill holes in it...

@pdqsailor1 I understand Eisenhowers thinking.. But the retention of earning just to avoid tax is precisely why you cant tax that high. In the end it destroys incentive to achieve.. This is the primarly thing that makes Capitalism work. It makes use of the greed of people. You have to allow them to keep enough, so that there is incentive to earn..Even now there is a booming tax avoidance industry.. Greed will always find a way..😷