We're in the midst of a debt crisis, and we have politicians doing their best to explain why Social Security payments, government employment pensions, and any number of programs are on the cutting block, but higher taxes aren't even on the table.
U.S. Debt Crisis: WHY, Exactly, Can't We Raise Taxes?
Posted by
MMarquit under News
From http://bloggingprofessional.blogspot.com 4688 days ago
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4688 days ago
Let's remember that the economic 'magic' of the '50's was largely due to the fact that during WWII, two great oceans saved U.S. soil from attack, and while the rest of the world was literally being bombed into oblivion, our economy tripled (it's a fact) due to the "insane" levels of war-time production. It was the early-mid '70's till Japan & Europe caught up, sending us reeling with the gas crunch/energy crisis of '74 (Americans lining up to buy fuel-efficient Toyotas instead of Detroit's V-8 gas-guzzlers). WE had paid to rebuild the infrastructure of the rest of the world post-war, and they then (in the '70's) reaped the benefits of modern factories, while we still had lots of pre-war facilities holding us back here.
Duncan