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kavips
Just another Delaware WordPress.com weblog
2 comments
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August 12, 2012 at 9:29 pm
Steve Newton
To an extent I agree with the point of the article at the end of the link, but it has any number of historical inaccuracies, and completely misses some of the major economic drivers of the 1950s prosperity, which included cheap oil, very small government spending, and the fact that we had the only up to date, intact, industrial plant in the world and all the contract we could ever want rebuilding everybody else,
August 12, 2012 at 11:01 pm
kavips
Yes, that is all true, but my focus was on the fact that one person incomes during that time, could make ends meet.
And the difference…. lies in corporate profits. Imagine how robust our economy would be right now if your two income family, was making the same on one income… The reason you aren’t, is because corporate would rather keep the money than pay you higher wages. Who can blame them. And that, sets the standard for government jobs too. If someone can get $80,000 filing paperwork, then you aren’t going to staff colleges with $40,000 positions….
It is against my nature to mandate how much a corporation must pay….. that is still the biggest argument against unions still today, is because, of the feeling that union people don’t have to work hard, because they can’t be fired…..
I think, we achieve the same effect (higher wages) occurs when you tax higher…. Except you leave how to dodge taxes in the hand of the person being assessed….
Remember, my reason for raising taxes is not to collect more money, that is secondary; ; it is to force people to bury their money back into their businesses. We know this is a short term affair….
If wishes were fishes, I would tax corporate profit at 100% for two and a half years…. 100%…. then, after we have paid down some of the debt, look seriously at where the ideal level of top marginal rate, should lie… In the past, I said 40% because that seemed to work in the 90′s….
And, there are always other outside factors… the sharp minds discount them just as mathematicians use a zero as the variable when figuring out extremely long calculations….