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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (427233)7/15/2003 1:48:22 PM
From: Peter O'Brien  Read Replies (1) of 769670
 
In fact, FDR never "paid for" WW2.

Despite the high marginal tax rates FDR imposed,
the budget deficits during WW2 were about
25% of GDP annually (about 5 times larger than
our current deficit).

The debt we ran up during WW2 has never been
repaid, and we have been paying interest on it
for 60 years.

Those high marginal rates really did a lot of
good, didn't they?
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