MSNBC Host, Krystal Ball (make whatever joke you want – she saw it coming), is arguing that tax hikes are responsible for economic prosperity, that the rich greedily hoard the fruits of other people’s labor, and that George Orwell’s Animal Farm was actually a criticism of the Koch Brothers… Or something. Harnessing a second-grader’s comprehension of 20th Century American history, Ball lays out her case for confiscatory tax rates by hijacking Orwell’s stellar anti-Stalinist novella from 1945:
Yeah… America was the “pioneer” in progressive taxation. And as progressive legislators hiked up tax rates to confiscatory levels (Even Warren Buffet might have been a little uncomfortable with FDR’s tax rates) something pretty substantial occurred in the US economy: A depression. In fact, one might even refer to this depression (given its widespread impact and the unparalleled consequence on average Americans) as a “great” depression of sorts.
Oh yeah: And things weren’t going so swell before JFK (a Democrat) cut tax rates in the 1960’s… But I guess it’s just coincidence that economic growth increased each time anti-tax presidents took the reins from soon-to-be liberal icons. Of course, Ball continued on her rant by slamming Reaganomics:
Only during the Reagan era were these rates brought crashing down under the bizarre, and ultimately incorrect belief that it would encourage growth…
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 20th, 2014 | John Ransom