I'll give you a clue. Nobody paid the 80% tax rate. In fact they paid $0. The system was incredibly fair... not. All those (numerous) brackets did was make for Jimmy Carter's days of malaise. With the skyrocketing inflation rates of the time, people might get a cost of living increase, but that increase would push them into the next higher bracket and nullify any pay increase.
Apparently they also made for FDR through Carter's malaise as all of those presidents had to deal with it. Sorry, but I'd have to see a TON of convincing evidence that says that people never paid the highest rate through those years.
http://www.cbo.gov/doc.cfm?index=6133 Effective individual income tax rates 1979/2002 Lowest Quintile 0% / -6.0% Second Quintile 4.1% / -0.2% Middle Quintile 7.5% / 3.5% Fourth Quintile 10.1% / 6.8% Highest Quintile 15.7% / 15.6% Soak the rich: Top 10% 17.4% / 18.0% Top 5% 19.0% / 20.1% Top 1% 21.8% / 23.8%
I don't think that inflation was near 20% under any president but Carter (since and including FDR) Due to tax writeoffs for real estate, for every $10K in income you needed $100K in real estate to wash your income taxes. Depreciation. Those deductions (except for a 2nd home) were taken away in the Reagan tax cut era.
It was mature. You are likely from the "everyone gets an award just for participating" generation. I come from a different generation, one that doesn't coddle stupidity. Please tell me a news story FOX fabricated to push an agenda, and please be specific. Brit Hume? Bret Baier? Carl Cameron? Mike Wallace? Those are all well regarded newspeople. Luckily other networks would never think of doing something like that *cough* Dan Rather *cough.
I'm serious. Be specific. You made an accusation. Go ahead and prove it. Once again, I don't think you understand the difference between FOX News and the opinion shows on FOX.
