Our country has a great deal to be thankful for.
In the recent election we dodged a bullet that would have continued the trend toward becoming a nation divided between the rich and the poor, and that would have surely headed us back in the direction of the 1920s and another "Great Depression."After all, the top tax rate was only 24 percent in 1929, and there were virtually no welfare programs to worry about. With such ideal conservative economic policies in place, why did we still have the depression?Simple: there was no money in circulation -- in people's pockets -- and Presidents Coolidge and Hoover were dead set against doing anything about it. Austerity has never worked.For a hundred years, the health of the economy has followed the top bracket tax rates. When the top bracket rates are low, the economy suffers and pulls too much money out of circulation because the rich don't spend nearly enough on consumer goods to sustain the economy.We must insist that Congress restore the Clinton-era top tax bracket rate ASAP. Raise the rate from 35 percent to 39.6 percent. Few people remember that the top rate reached 94 percent during World War II.We must not let greed ruin our economy!-- Carl V. Flores, GrandviewHave more to add? News tip? Tell us
