What went wrong?
They peaked in the 50's when tax was 92% on the rich.
How can it be saved?
>>51982833
>92% tax
That no one ever paid
Corporate greed
It can't be saved lmao
That the economy in the 50s was actually pretty stagnant with real GDP growth at around 1-2% a year and a couple of recessions. In fact Kennedy ran in '60 with the slogan "Get America moving again."
I hope they can overcome their problems and develop
They have a nice culture and nice people
One day it will be a good country, I believe.
>What went wrong?
Immigration act 1965
>They peaked in the 50's when tax was 92% on the rich.
92% tax is retarded, Laffer curve peaks at about 48%
>>51982893
>>51982967
NOPE
OP is the SJW fairy Finn troll. Please do not feed this guy's threads.
Anyway, Kennedy pioneered supply-side economics a whole generation before Reagan and broke with the New Deal orthodoxy of high taxes to force income equality. One Congressman wryly remarked that Kennedy was "the most Republican president since McKinley".
Although he didn't live to see his tax plan passed, LBJ quickly pushed it through Congress and by 1965, real GDP growth was up to 6% a year and would remain so up to the end of the decade.
>>51983044
>Tax rates were high in the 1950s, we often hear, yet economic growth boomed. So why should we fear higher taxes today?
>One answer is that taxes in the 50s weren’t really high. Yes, the top marginal tax rate was 90%, but it applied to almost no one. What matters more is the average marginal tax rate – that is, the average rate paid on the next dollar of earned income. That figure tells you more about the incentives facing individuals working in the economy.
>And based on data from a 2009 study by Robert Barro and Charles Redlick, the good old days in terms of economic growth were also pretty good in terms of taxes. Barro and Redlick calculated average marginal tax rates inclusive of federal income taxes, Social Security taxes, and state income taxes. In the 1950s, the average marginal rates equaled just 25%, versus 37% in the 2000s.
>>51983250
Reagan's recollection of the Eisenhower years:
"The high tax rates at the time led to us actors taking the summer off rather than shoot an addition picture that we'd have to pay more taxes on. I can remember some of us sitting in the Brown Derby Restaurant in LA discussing our tax shelters."
>>51982833
Globalization, urbanization, mass immigration, and a large welfare state.
>>51983480
>>51983307
Loosely translated, businesses and the rich were hoarding money at that time rather than invest or hire people (that they'd have to pay taxes on) and thus...sluggish economy. The Eisenhower economy seemed good only because the Depression was still fresh in everyone's memory.
>>51983307
>Yes, the top marginal tax rate was 90%, but it applied to almost no one.
It applied to enough people to make it matter. Same as today.
Stop defending the mega rich.
In USA everyone's a sheep who think they can one day become the butcher.
>>51983250
Then Nixon overburdened the economy with regulations, which combined with LBJ's massive deficit spending triggering inflation, led to a decade-long recession.
>>51983675
>In USA everyone's a sheep who think they can one day become the butcher.
*BZZZT*
Infact 86% of millionaires in the US are first-generation.
>>51983675
No it didn't.
Only partisans believe this meme.
>>51983675
There are more millionaires here than there are people that live in Finland.
Anyone can make it here, friend; invent something new and change the world.
>>51983675
Funny, your ancestors fought so hard against communism and look where it's lead you
>>51983250
Reagan in fact often did bring up that his economic plan wasn't new and Kennedy had already done something similar 20 years earlier. Ofc quoting JFK got a lot of Democrats spectacularly butthurt (nevermind that Reagan was an ex-Democrat and had voted for Kennedy).
What went wrong?
They peaked in the 70's when they could suck Russia's dick.
How can it be saved?
Wages were either higher or about the same despite much lower productivity. Despite some retarded economic policies I think we're still on the upswing. Economic inequality is a problem but our economy as a whole is still growing and will dwarf every country except china and India for the foreseeable future
>>51984394
DIE CRIMINAL SCUM
YOUR WHORE COUNTRY CAN CONTINUE SUCKING MY DICK
