November 28, 2012

The rich used to pay more in taxes, a lot more

Letter to the Editor

In one screaming sentence Katrina vanden Heuvel (commentary, Nov. 3) catches the core issue of the American dilemma, "Warfare waged by the upper class."

The upper class represented by the rich so-called 1 percent and aptly personified by the likes of House Speaker John Boehner and the Senate Minority Leader Mitch McConnell, who want the tax breaks for the rich awarded them by Bush in 2003 to be extended indefinitely.

Hypocrisy and insincerity become obvious when claims are made that the tax breaks for the rich will not affect the national deficit. The Bush tax cuts would add about $3.7 trillion to the national deficit over the next decade.

"Trickle-down Reaganomics" has not brought prosperity to the 99 percent. The rich used to pay more in taxes, a lot more. The publication "The Week," Nov. 4, 2011, tells us the following:

The top marginal income tax rate was 91 percent during the 1950s, 70 percent during the 1970s, and 50 percent during all but the last two years of Ronald Reagan's presidency when it fell as low as 28 percent.

The above-mentioned politicians are all too anxious to abolish or diminish entitlements (Social Security, Medicare and Medicaid) to secure their tax breaks. The common good does not count.

Howard N. Stewart

Manchester

Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors




Further Discussion

Here at KJonline.com we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)