John F. McBrideSeattle Verified FLAG In 1950 the corporate contribution was 32% of Federal revenue. Its now less than 17%. In 1950 individual contributions to Federal revenue were 45% of Federal revenue. Thats now 63%, but the 1%s contributions have fallen drastically. Individual income in the U.S. approaches $13 trillion. Corporate profits are the highest since 1943 (adjusted dollars). Yet worker compensation was the lowest in 57 years. In 1950 the top marginal tax rate was more than 90%, yet U.S. real annual growth averaged more than 4%. For years in which the top marginal rate was lower than 39.6% annual real growth averaged 2.1%. For years in which the rate was 39.6%, or more, real growth averaged 3.8%. This trend is true, regardless of the threshold; in years for which the tax rate was less than 50%, growth averaged 2.7%. In years they were 50% or more, growth averaged 3.7%. The total asset value of the U.S. in 2012 (Fed stated) was $78.2 trillion, $24.6 trillion of which was tangible assets. $53.6 trillion was in the form of deposits, corporates, mutual funds, pension funds and other assets. Total household net worth, accounting for debt, was $64.8 trillion. We dont have debt problem. We have a lack of tax revenue problem. We have a lack of care and concern problem. And it isnt Democrats who are core to national angst. Democrats didnt shut down the government, they arent ruining workers, trashing wages, and threatening entitlements. Republicans and their handlers are.
Posted on: Fri, 25 Oct 2013 16:27:08 +0000
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