While we could discuss economics dating back to the Ancient Roman empire, I found it most constructive to stick to America in the 20th century. Sure, we could argue economics dating back to the Roman Empire, but for the sake of keeping the discussion light and avoiding it drag on for months I arbitrarily chose the early 1900s as a starting point. I think we can learn a lot from our own recent history if we do such a simply analysis.
The statement that we are more socialist that say 1845 when we had slaves and the wild west is kinda pointless all the same. Humans as a whole have a more socialistic way of life than the Dark Ages during feudal times. The point is moot, and really I'm kinda glad we aren't pissing and pooping in the street, drinking dirty water, living in filth, taking care of our fellow man, etc. Simply because we are more socialist that cavemen isn't an argument to become less socialist. It's a logical fallacy.
LJ4pointplay wrote:Specifically, you should consider:
-the top rate you mention for individuals is not the "real rate" (a somewhat ambiguous term) that you apply to current corporations
-our corporate tax rate is the top in the world
I'm combining these two points, as they contradict one another. You reference the effective tax rate in point 1, but refuse to acknowledge it in point 2. While the tax rate was 94% in 1945, with deductions it was reduced substantially.
The same notion can be applied to the corporate tax rate. While our statutory rate ranks #1, numerous studies on the matter of effective corporate tax rate have us ranked lower. While they all vary to some degree, they all point to the fact that the US is certainly not the highest in the world. Some studies have us ranked around 27-28% and depending on the study that ranks us, we fall somewhere near the average rate for OECD countries, some put us above average, others below, all studies I have found do NOT rank us the highest.
LJ4pointplay wrote:-corporations are subject to double taxation. They are taxed at the corporate level and then the shareholders are taxed again when they receive their income.
This is a buzzword the billionaire controlled media uses to promote their agenda. Taxes on shareholders are very friendly, especially to long term capitol gains. Why should Wall Street investors be able to make had over fist at a zero percent tax rate? I personally day traded as a living for 8 years and found the tax code to be easily dealt with, including short term gains, which made up approximately 95% of my earnings.
LJ4pointplay wrote:-our current system is largely based on Keynesian economics, and Keynesian theory does not support your views at all. A Keynesian economist would have major issues with your views.
-you seem to not consider factors behind economic expansion and retraction aside from taxation.
-If the pie grows, and everyone's slices grow, should we take issue with the fact that certain people's slices might grow at a faster rate than others? Would you prefer the pie stay the same size and everyone be given equal sizes? I don't mean to suggest that those are the only options, but questions worth considering.
You might want to consider actually reading some Keynesian economic theory as well as some Austrian stuff (with an open mind). Milton Friedman' works would be a good start.
I kept my post short and simple, realizing there are other variables at play. However, the most resounding reason in my opinion as to why the middle class has been gutted is the tax code along with the numerous free trade agreements our government has implemented at the behest of the billionaires. I suppose I could have mentioned my thoughts on those foreign policy changes along with the removal of our tariffs. It all ties together neatly to support my claims that the post-Reagan government has been a series of negatively impacting events for almost anyone that is not in the class of the Koch brothers.
I'm an amateur at best in the area of economics, but I don't think it takes a doctorate to see the writing on the wall that we're getting bent over the couch by a few super rich psychopaths.