HISTORY OF ECONOMIC UNFAIRNESS IN THE US DUE TO THE NATIONAL DEBT At the heart of Uncle Sam's economic unfairness is the entire economy which shows from top-to-bottom and bottom-to-top not a distorted amount that goes to only sector, and that is what is happening in America today. Ever since the Replicants - under Ronnie RayGun (PotUS in 1980) - changed the tax-law. See here: The history of upper income taxation shows that the top marginal-rate was 92% ffrom WW2 until the Democrat John Kennedy in 1963 (as "thanks to daddy" for subsidizing his election). It was then Reckless-Replicant Ronnie RayGun in 1981 who dropped them even further (to the 50% range) during his administration - and he lowered them again in 1986. Aside from John Kennedy the other massive reductions were under a Replicant presidency ... and it was finally a Replicant PotUS who brought them up to 40% where they remain today. That massive historical reduction in upper-income taxation THAT KENNEDY STARTED WAS CONTINUED AND AMPLIFIED BY A REPLICANT-PRESIDENT!!! And because successive presidencies have liked to keep spending, spending, spending, it is the reason why the USA has today a massively-overhanging-debt which can be seen here below: Be sure to tell your kids how it happened - that s/he is going to be paying off the National Debt for the rest of their working lives thanks to a Replicant presidency ... !
DEBT CEILING The history of debt-ceilings in a country that does not understand the meaning of the word "ceiling": Definition of ceiling (appropriate to this subject): The top limit imposed by law on the amount of money that can be charged or spent or the quantity of goods that can be produced or sold. From the above chart ("Debt Out the Wazoo" ;^) and since 2013 the government has "broken the voted law" three times ... PS: When "push comes to shove" it happens the moment when the Financial World decides the dollar is no longer worth a pot-to-piss-in. And if Uncle Sam is not Very Careful, that moment is just around the corner.
And it did nothing to help The Poor®. To correct your disinformation, WW II started in 1939, although American involvement did not "officially" begin until 1941. The top bracket was 79% in 1939 and 1940, not 92%. In 1941, the top bracket was 81%, not 92%. It was 82% in 1942 and 1943; 94% in 1944 and 1945; 91% from 1946 to 1950; 92% in 1952-53; and 91% from 1954 to 1963. While the very top tier was that high, the effective tax rate was only 32% to 45% depending on the individual. You deceitfully ignore the fact that "Ronnie Ray-Gun" simplified the tax code, removing the 1,000s of income deductions and tax credits that people could take to make their effective tax rate 32% to 45% and then set the tax rate so that most people paid what they were already paying in the first place. The point being it doesn't do any good to set the tax rate at 100% and then allow people to take 1,000s of income deductions and tax credits to reduce their taxes to 32% to 45% of their income. Note that the IRS decreased in size during the Reagan Administration, because it was no longer necessary to have 1,000s of IRS employees scouring the 1,000s of income deductions and tax credits available to tax-payers. Also, by eliminating the 1,000s of income deductions and tax credits, the IRS became more efficient at collecting taxes, because there was far less fraud and abuse. It also made tax refunds issued faster, because in the 1980s, the IRS were still viewing tax returns by hand and since they didn't have to sort through 1,000s of income deductions and tax credits, they were more productive.
