Daemon Sophic
Avatar in flux
You won't find me losing sleep over how much their poor sad lawyers have to read through, in order to make the company CEO bathe in ludicrous piles of money.Few actually paid those high rates. They were offset by generous tax avoidance provisions, eg, frequent buying & selling of real estate to shelter income with low capital gains taxes on recaptured accelerated depreciation.
The 50s & 60s were great for many reasons. We had.....
- A technological & manufacturing advantage over the rest of the world.
- An economy not wrecked by WW2
- Economic & other regulation was less.
But that began changing in the 60s.
I saw it particularly in the auto industry, which suffered from Japanese competition.
Sure it was a great idea..... but even Reagan and Bush Jr., who tried to emulate him with more text cuts for the rich, both agreed out loud and in speeches that these were meant to be only short-term items.Reagan actually gutted the the accelerated depreciation strategy.
His strategy of lowering marginal tax rates while removing avoidance schemes was a great idea.
It still is, but we won't see it from the typical candidates in the Big Two.
Trump is an exception here.....one of his good traits.
And we've seen how the plutocrats have maneuvered those things into never ending riches, and those tax cuts have not disappeared as they were meant to under Reagan's plans. Now the rich simply don't pay anything near relativistic taxes, and the coffers of the nation are empty. Our infrastructure; our schools; our roads; our hospitals; our research, are all long since fallen behind the civilized world, and the reason is we have no public funds, instead those funds are in offshore tax avoiding accounts of the super rich. And with Citizens United and general human corruption, those coffers are used to pay politicians and make them continue the never-ending text cuts. And regardless of how many useless pages of federal documents there is still no enforcement of anti-avoidance policies.
Hillary, who was duped into voting for Bush's and Cheney's war, is still bought and sold like any politician.....but Trump would willingly go along with the plutocrats demands, and might even one-up them into giving away our nation to the rich. I prefer to live in a Democracy, not an Plutocratic aristocracy. (as I recall, our founding fathers fought a little war on that account).