How did businesses survive in the 1950's, if the highest income earners were...

honestly63

New member
...taxed at 87%? I keep hearing that raising taxes on the wealthiest Americans hurts businesses, which are our job creators, yet in the 1950's they were taxed at 87%, and businesses seemed to do well enough. Why else would we call the 50's our "happy days", if businesses and workers weren't doing well?

Now the wealthiest Americans are only taxed somewhere around 33%, while their incomes have increased far more than inflation, yet people complain that it's too much. (US treasury fact sheets)
Hello, I cited my source, can you not read? Google, "tax history us" and check out the US Treasury fact sheets. By the way, this is not a website Obama manipulated (for all you conspiracy nuts), it was up during the entire Bush administration as well, I have hard copy to prove it.
 
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