I just want to cut in here because most of you are younger than I, and don't remember the pre-1980 tax scale. My recollection is that the very rich were paying taxes above 90 percent, yet after taxes, they were still rich. Most Americans realized that huge accumulation of wealth represented an unbalanced situation, because all that wealt…
I just want to cut in here because most of you are younger than I, and don't remember the pre-1980 tax scale. My recollection is that the very rich were paying taxes above 90 percent, yet after taxes, they were still rich. Most Americans realized that huge accumulation of wealth represented an unbalanced situation, because all that wealth had been created by low-paid workers, and in America, that seemed un-American. Look back to the time of FDR. Learn the history so you can see how much we've lost during the past 100 years.
And there is one thing that mystifies me. I am retired military, in or around 1963/1965. Although my income was meager, a little over $300 a month, I had to pay the alternative minimum tax
I just want to cut in here because most of you are younger than I, and don't remember the pre-1980 tax scale. My recollection is that the very rich were paying taxes above 90 percent, yet after taxes, they were still rich. Most Americans realized that huge accumulation of wealth represented an unbalanced situation, because all that wealth had been created by low-paid workers, and in America, that seemed un-American. Look back to the time of FDR. Learn the history so you can see how much we've lost during the past 100 years.
Sandra I am 84 and remember the past as you do.
And there is one thing that mystifies me. I am retired military, in or around 1963/1965. Although my income was meager, a little over $300 a month, I had to pay the alternative minimum tax