Paul Krugman says raise taxes to 91% of income

Paul Krugman is proof that you can be stupid, always wrong and certifiably stupid yet still have people think you know what you are talking about. In this case, Krugman’s latest dumb idea is to hike the income tax rate to 91%.

In an article in the New York Times, Krugman waxes nostalgic for the tax rates we had back in the 1950’s.

The Twinkie, it turns out, was introduced way back in 1930. In our memories, however, the iconic snack will forever be identified with the 1950s, when Hostess popularized the brand by sponsoring “The Howdy Doody Show.” And the demise of Hostess has unleashed a wave of baby boomer nostalgia for a seemingly more innocent time.

Needless to say, it wasn’t really innocent. But the ’50s — the Twinkie Era — do offer lessons that remain relevant in the 21st century. Above all, the success of the postwar American economy demonstrates that, contrary to today’s conservative orthodoxy, you can have prosperity without demeaning workers and coddling the rich.

Now, Krugman is the stereotypical moonbat. He is also a moron, but I’m repeating myself. As usual, he misunderstands what things were like back in the 50’s. Allow me to hand him a bit more rope.

In the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent, while taxes on corporate profits were twice as large, relative to national income, as in recent years. The best estimates suggest that circa 1960 the top 0.01 percent of Americans paid an effective federal tax rate of more than 70 percent, twice what they pay today.

Nor were high taxes the only burden wealthy businessmen had to bear. They also faced a labor force with a degree of bargaining power hard to imagine today. In 1955 roughly a third of American workers were union members. In the biggest companies, management and labor bargained as equals, so much so that it was common to talk about corporations serving an array of “stakeholders” as opposed to merely serving stockholders.

Allow me to explain a few things to this clueless idiot. First, the United States was the only nation on earth with a functioning manufacturing infrastructure. All the other nations were still rebuilding from WW2, and the USSR had no interest in the Free market. Taking over the world, yes, but not in actually improving people’s lives. Back then you couldn’t outsource to another country.

As to the tax system, it was highly graduated with 91% being the top end. However, people back then who were in that bracket never actually paid the full 91%. We also had a number of government monopolies, and 50% or more of the work force was in a union. The national highway system was just being constructed and people still used trains to get around between cities.

We also had real racism back then with black Americans, actually anyone who wasn’t Caucasian being treated as a second class citizen. Somehow, I don’t think certain members of American society have any interest in returning to the days of “Whites Only. Krugman, being a liberal, probably does.

Paul Ryan and many other modern conservatives are devotees of Ayn Rand. Well, the collapsing, moocher-infested nation she portrayed in “Atlas Shrugged,” published in 1957, was basically Dwight Eisenhower’s America.

And we see Krugman’s skill as an historian, or lack there of. Eisenhower was what we call a RINO. He was an honest, and unlike our current president, (Or Krugman for that matter), a patriotic American. What he saw his mandate when elected, was to maintain FDR’s New Deal and keep the Soviets in check.

The world today is radically different from the 1950’s. The Soviet Union no longer exists. China, Germany and Japan are economic powerhouses. (Except they have their own issues we won’t go into) Private sector unions in this country are in serious decline. Only government employee unions are growing. The manufacturing base we had in the 1950’s is long gone. It was driven out of the United States for several reasons. Excessive levels of regulation, Unions pricing themselves out of a job, (See the recent failure of Hostess), and the dumbing down of people due to a failing educational infrastructure.

Krugman’s idea of massive hikes in taxes ties in nicely with his ideas of massive government spending. Of course, all this was tried before and failed miserably. People like Krugman believe the reasons their ideas failed was that people didn’t implement them correctly. (Yeah stupid, they did and we see the results)

You want to fix the American economy? It’s easy. Take whatever idiots like Paul Krugman recommend, and do the exact opposite. The main cause of our problems today can be laid at one single location. Washington D.C. and the professional politicians and to to bright bureaucrats. They still think the Soviet system of Top down command economy works. The only reason it failed in the USSR and other communist countries was due to the incompetence of the leadership. If they had Paul Krugman running things and followed his advice, we would be living in a nice, 1950’s style America. You know, where women stayed home and baked cookies, not go into the workplace and steal jobs from all those white American men. (That was a sarcastic remark at the inherent racism of the Liberal/Progressive movement)

[youtuber youtube=’http://www.youtube.com/watch?v=CgAUW_zcN9k’]

Unfortunately, the Paul Krugman’s of the world are in charge in Washington, and we are staring down the barrel of a complete economic collapse in the next few years.

Thanks a lot.

Thatisall

~The Angry Webmaster~

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