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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (497040)11/22/2003 12:15:10 PM
From: Peter O'Brien  Read Replies (2) of 769670
 
During WW2, we also spent 90% of total budget on defense!

Currently, even with the increased spending for Iraq,
we are only spending a measly 20% of the total budget
on defense.

Shouldn't we be spending one hell of a lot more on
defense now for your historical comparison to have
any validity whatsoever?

You are asking the "rich" to sacrifice for the war,
yet the Federal government itself is not "sacrificing"
much at all! How about first cutting out a lot of
the non-defense spending?

And, let's also take a closer look at how "effective" FDR's
90% top bracket really was... Federal tax revenues peaked
at about 20% of GDP during WW2. Today, federal tax revenues
are roughly 17% of GDP (only 3 percentage points less than
at the PEAK of WW2) with a MUCH LOWER top marginal rate
than during WW2!
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