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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (702762)	3/6/2013 1:35:33 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) of 1572913

CJ, the war and high inflation had a lot to do with "wage compression" in the 1940s. It's not just the high tax rates, which continued after the war until Kennedy got rid of them. The unprecedented economic boom that followed the war also helped. Guys like Krugman think it's because of the high taxes that led to the shrinking of the gap between rich and poor, but that's not going to happen today if you raise taxes back to WWII levels. Instead, you'll end up hurting economic growth and driving the wealth away. Tenchusatsu

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