Taxing wealth works

After World War II, America had twice today’s national debt. However, we quickly climbed out of debt, even as we provided free education for veterans, developed the best affordable public university system on the globe, built the world’s most advanced interstate highway system, financed the rebuilding of Europe through the Marshall Plan, fought the Korean War and put a man on the moon.

Today the country is wealthier than ever. Yet, the middle class sinks further and further into debt and the nation can’t pay its bills, our infrastructure is falling apart, we can’t afford college or medical care, while the rich get richer.

What happened?

One big difference is tax policy. During the 1950s, Republican President Eisenhower had a 90 percent income-tax bracket. This wasn’t on a person’s total income, just on income that would exceed $3 million today. Back then we understood all Americans had worth and individuals raking in more than $57,000 a week weren’t really “earning” it but were just taking it from fellow citizens.

The rich were still wealthy, but by taxing them our nation climbed out of debt and became the free-world leader.

Today’s Republicans say taxing the rich will destroy the nation. Huh?

Vern Stevens

Kellogg