ocu
...the top tax rates were indeed higher back then, but there were a lot more deductions and exemptions and loopholes. The effective tax rates were about the same as they are now. Those marginal tax rates were designed to protect 'old money' wealth from the crowd of newcomers attempting to horn in on the status of those who were in the borned rich business (most of whom are and were democrats.
Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!
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