Social Justice Resources
Social Justice Resources
Given the controversy over increasing the top corporate tax rate, I thought this defense of the then-existing 90 percent rate by former WWII Supreme Allied Commander, and post-war Republican President Eisenhower would provide some perspective on how "radical" proposed increases to the current 21 percent rate are. (Before last year's tax cut, the rate was 35 percent.) Eisenhower's tax policy was a major factor in driving the booming economy of the 50's and 60's where many working families could live pretty well. Of course, that all ended with a long period of stagnant wages that began with the upper income tax cuts and trickle down economics of the Reagan administration. Those Reagan policies have served as the model Republicans have sought to build on ever since, and wages have continued to stagnate. (Note the line of text at the top of the image.)
"A shame. Dwight Eisenhower didn’t bring much flash to the White House. But his eight years in office — starting in January 1953 — played a pivotal role in modern American history. The Republican Eisenhower could have killed the egalitarian gains of the New Deal. Instead, he built upon them."