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TEXAS TEXTBOOK MASSACRE Education Board OKs Radical Changes, Thomas Jefferson Cu

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Author Topic: TEXAS TEXTBOOK MASSACRE Education Board OKs Radical Changes, Thomas Jefferson Cu  (Read 442 times)
Bethany Beightol
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Posts: 4349

« on: March 13, 2010, 05:13:38 pm »

rillem =

The Texas revisionists should also point out that when Reagan cut the top marginal tax rate to 28% with the Omnibus Budget Reconciliation Act of 1987, later that year the stock market crashed, just like it did the last time the Republicans tried that in 1929. By 1991, we were in the worst recession since the Republican Great Depression of the 1930's.

Reagan's 1984 economic recovery that the cons are so fond of celebrating, occurred while the top marginal tax rate was at 50%. That's not a low tax rate. That's about what it is in the average Western European country. That's 10.3% higher than it was under Clinton after Clinton raised the top rate to 39.7% in 1993. Thus proving irrefutably that the economy and the middle class do better when the wealthy are taxed at a higher rate.

Let's join with conservatives who want to lionize Reagan and ask them if Reagan was so great surely they would support returning to the tax rates as they were under Reagan that brought America out of the recession of early 1980's? That's right conservatives. If you want to properly honor Reagan, then you need to support a 50% top marginal tax rate.
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