Eight of the last nine recessions have been under Republican presidents

[NNN0LHI]

http://www.addictinginfo.org/2011/10/07/what-you-can-do-for-your-country-occupy-together/

What You Can Do For Your Country: ‘Occupy Together’
October 7, 2011
By Stephen D. Foster Jr.

<snip>Eight of the last nine recessions have been under Republican presidents.

Democratic presidents create 2 times as many jobs per year as Republican presidents. Republican presidents’ deficits are 3 times higher than Democrats’ and 2 times higher as a percent of GDP. The economy grows 41% faster under Democratic presidents and businesses invest 3 times as much under Democratic presidents. Those are revealing statistics.

The last three decades have been all about greed and decadence. We have allowed corporations and the wealthy to infest government and use the American people as slaves. Because of that, 15% of Americans are on food stamps. That is 1 in 7 Americans. That is 46 million residents of this country and another 50 million that are without health insurance. Here are the last statistics you need to see, and this proves beyond a shadow of a doubt that the wealthy haven’t been sharing in the sacrifice

Tax rates on the top tax bracket:
1918 77%
1921 73%
1923 56%
1924 46%
1925 28%
1929 24%
Great Depression
1945 94%
1955 91%
1965 70%
1975 70%
1980 70%
1982 50%
1987 38%
1993 38%
2003 35%
2008 Great Recession
2011 “Effective ” tax rate–17% and still declining.
2012 Great Depression II?

There is a dangerous pattern in these statistics. As taxes on the wealthy get lower, our economy slips further toward certain economic disaster. It is no coincidence that our greatest economic power came in decades when the wealthy paid higher tax rates. We must raise the tax rate on the wealthy to those levels.

[librechik]

1. since suppressing wages and inflating real estate are foundation of Repub policy

that doesn't surprise me at all.

[cthulu2016]

2. I do not think the tax relationship is causal

Low taxes on the wealthy do not, in themselves, cause economic calamity. Low taxes on the wealthy arise as part of an overall rich-friendly governmental mindset.

A lower tax rate is a good indicator of things like deregulation of the financial sector, or throttling down inflation. Whenever the rich are running the show there will be a whole pile of rich-friendly policies.

Causally, however, it would not doing anything for the economy today to raise tax rates on the rich unless every penny of that revenue were directed to a purpose more stimulative than whatever the rich would have done with the same money.

A surcharge on the rich to fund direct government hiring would be helpful.

A surcharge on the rich to reduce the deficit would (in today's world) be net-harmful to the economy.

It's all about what you do with the revenue generated.