At the end of Dwight Eisenhower’s term as a Republican president from 1953 to 1961, the top marginal income tax rate was 91%. That rate applied not to the entire income, but only to the top portion of a very high income. The rich could still get richer, but not obscenely so, as they do now that the top rate has shrunk to 37%!
Before becoming president, Ike was a general in World War II. He said, “I hate war as only a soldier who has lived it can, as only one who has seen its brutality, its futility, its stupidity.” I saw this quote on a Veterans for Peace t-shirt at a conference in March that focused on the unconscionable realities of border militarization from Mexico to Palestine, called “All the Walls Must Fall.”
And it was Ike who issued a strong warning as he left office in 1961. “In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.” Now we face the threat of nuclear war and climate catastrophe. That certainly would not have made sense to Ike, nor does it make sense to the rest of us.
About war, yes, the Russian military intervention needs to stop, now. Will stopping that alone give us peace in the world? No. Although we won’t get much education from our media and government — even the most progressive and anti-war — still we need to learn about foreign military bases, weapons and war industries, militarized borders, the UN-prohibited warfare of economic sanctions, oil industry power and influence, percentage of budgets going to military, purpose of NATO, the tragedies in Yemen, Syria, Palestine, Libya, and more. Then we may learn how to stop and prevent war, and achieve peace.
Here are four steps that could be taken by all parties including Russia and the US. It is a revision of the U.S. Peace Council Statement on Russia’s Military Intervention in Ukraine.
- Immediate ceasefire and withdrawal of militaries, weapons, and equipment – including mercenaries – from Ukraine.
- Dispatch of humanitarian aid to Ukraine, including the self-proclaimed independent republics.
- Recognition of the neutrality of Ukraine.
- Resumption of negotiations for a permanent settlement of internal conflicts in Ukraine with the participation of all parties concerned.
About taxes, this is from Laura Wells for Controller ISSUES.
Tax the Super-Rich
Tax the rich the way they used to be taxed, so that everyone else can benefit from growing opportunities to lead lives with dignity.
Taxation Basics
• The richest 1% of California tax filers pay the largest share of their income in state and local taxes (12.3%), but the 20% of tax filers with the lowest incomes pay the next highest share (11.4%).
• In the long run since 1978, California’s Proposition 13 helped rich corporations and individuals far more than the rest of us, especially young people.
• The top marginal tax rate for federal income tax in 1961 was 91%; and now it is 37%.
Taxation Background and Proposal
Decades ago taxes were much higher on the wealthy, and yet the rich could still get richer, while the rest of us also had growing opportunities for better living.
Now, low taxes on the super-rich incentivize decision-makers to keep profits for themselves, and this fact alone helps create billionaires.
Without tax revenue from the richest corporations and billionaires, the state has not maintained highways, school buildings, roads, and beautiful parks, and the state has not maintained basic services.
Because California is not taxing the super-rich, the state gets revenue in what could be called “hidden taxes”, everything from park fees, traffic fines, and parking fees, to the ever-increasing tuition for higher education. Earlier generations attended the California university system at far less cost. California can do that again.
California can correct the balance of who pays taxes. I propose reducing the regressive taxes, such as sales and excise taxes, that hit middle and lower income people harder. And I propose increasing progressive taxes, like income tax and corporate tax, and enforcing payment of those taxes, so that those who can pay, do pay.
A note about corporations: A company that many people rely on heavily (unfortunately) is Amazon. This corporation has killed off many small, local businesses and meaningful work; meanwhile Amazon has produced the world’s richest person, and often paid little to no taxes. During the pandemic in 2021, Amazon earned record profits, and raised its prices on Amazon Prime.
A note about billionaires: They don’t just buy jets and yachts, islands and parties, billionaires buy power, and that harms our democracy. They buy politicians who make decisions that affect all of us, from real safety and justice to meaningful education and healthcare. And they pay for the information that gets inside our heads and the heads of our children. They buy media outlets: TV and radio stations, publishing houses of everything from “local” newspapers to school textbooks, ads of all kinds including broadcast, billboard, print media, and the internet. In this way, they buy the power to affect what we believe is reality, and whether or not we believe there are peaceful and meaningful alternatives that we can actually choose.
“Decades ago taxes were much higher on the wealthy, and yet the rich could still get richer,”
No one paid the 91% taxes, loop holes were created to encourage investment into the economy. This is why the tax system has thousands upon thousands of pages of loop holes that only benefit those who can afford teams of accountants.
The IMF have stated that higher taxes incentivise money laundering.
Increasing taxes hasn’t and won’t increase tax revenue.
Big corporations love big government and big regulation to block competition. Lobbying big government is cheaper than lobbying the people with good services.
Thank you.