Posted by emmanuel98 on June 28, 2012, at 21:00:05
In reply to Re: Healthcare Bill Deemed Constitutional » psychobot5000, posted by Dinah on June 28, 2012, at 19:06:14
> Whoops, you're right about Carter's tax rates. It was 70% and he did reduce the capital gains tax. But I'm right about his interest rates.
The top rate was raised under Nixon. Reagan reduced it to 28%, then raised it again after the deficit proved too huge. Carter had no control over interest rates. The Fed did that all on its own under Paul Volcker. The idea was to control inflation by driving interest rates up, putting the economy in a recession and driving wages down. This is why Carter didn't get reelected. But enough of this. I teach college level economics and health economics. I get angry at how little most people know, yet how much they think they know.
poster:emmanuel98
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URL: http://www.dr-bob.org/babble/20120608/msgs/1020385.html