Quote:
Originally posted by Colin@Jun 17 2004, 05:38 AM
I knew what to look for.
"In the 20th century in the US there were three episodes of significant tax rate reductions. These reductions occurred in the 1920s under Presidents Warren Harding and Calvin Coolidge; in the 1960s under President John F. Kennedy, and in the 1980s under President Ronald Reagan."
"The Harding–Coolidge tax rate reductions brought the top income tax rate down in stages from the wartime high of 73 percent in 1921 to 25 percent in 1925."
"JFK's tax plan cut the top tax rate from 91 to 70 percent. "
"In 1981 Ronald Reagan proposed and signed into law a 30 percent across–the–board tax–rate reduction plan that was modelled after JFK's successful tax cut 20 years earlier. "
http://www.adamsmith.org/tax/soak-the-rich.php
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I knew what to look for:
The Fed reduced the discount rate from 7% in 1921 to 3.5% in early 1928, but raised it to 5% by the end of the year.
Great site:
http://www.benbest.com/polecon/buscycle.ht...html#depression
Last edited by Buff at Jun 17 2004, 06:50 AM