During the 1950s, America had a 91 percent high-end tax rate. If the 50s had been a dismal economic decade, then it could stand as "Exhibit A" for the GOP to use in attacking high tax rates today.
But in reality, it was an extremely prosperous decade for America. In fact, it was a prosperous decade for the great majority of Americans (in contrast to the past three decades, which have seen only the Top One Percent prosper). In fact, in many ways, the 1950s was a truly golden decade. While it wasn't, of course, perfect, the 1950s seems like a million miles away from today's Third World-like America.
In the 1950s, American workers made the highest wages in the world. We also enjoyed the best workers' benefits and the longest vacations. Most high-tech products were made in America. I'm not sure what the world's top 10 corporations and top 10 banks were in the 50s. But I'd bet they were all American.
American had a trade SURPLUS in the 50s. The dollar was strong. The U.S. middle class was the envy of the world. The U.S. made the best cars in the world. America's manufacturing base and infrastructure were second to none. U.S. public schools trounced their counterparts worldwide. Nations around the world regularly sent representatives here to study how we did it.
The 1950s was the decade that America became AMERICA, the superpower. We really were No. 1 back in the 50s. Today, we're only No. 1 in the minds of the "Rah Rah U.S.A.!" jingoistic retards of the Tea Party.
Source: http://www.news.theusalinks.com/2012/12/14/as-fiscal-cliff-looms-health-reform-questions-linger/
0 comments:
Post a Comment