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  • ilap2004 ilap2004 Dec 27, 2012 3:33 PM Flag

    The market's Craaaaaaaaaaaaaaassssssssshhhhhhhhhhhhiiiiiiiiiiiiingggggggggggg


    Speaking of the thirties Herbert Hoover put in a big income tax rate increase on the rich in 1932.

    "In one of the largest tax increases in American history, the Revenue Act of 1932 raised income tax on the highest incomes from 25% to 63%."

    Which your outer space theories claim would stimulate the economy.

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    • Move a little forward from Hoover's time, when there was no business profits to protect, to the end of the second world war. The johnnies came marching home again hurrah to the sound of full employment, at least to the 5.5% level and why? Simple. Might as well hire, flush from the fruits of a booming military driven prosperity, there was money to conserve, unlike 1932, or 35, or 39--now you had something to protect, otherwise you had to give three quarters of the dollar to Uncle anyway. Might as well throw in another quarter and see if you could make the dollar back and then some. And this is during the period where unions were on the rise.

      Yes, it is counterintuitive. Just like pushing the stick forward on a Mach 1 dive, it runs the opposite of what you'd normally do. Pull the stick back and you're a part of the ground, push it forward, and the nose picks up and levels out nicely......

26.15+0.02(+0.08%)Jul 22 4:00 PMEDT