by A priceless moment in a Sanders versus Clinton debate last year![embedded content]In reality of course, Bernie is just an honest New Dealer who wants a Western European social democracy.And as for the top US federal marginal tax rates under Eisenhower, we can see them in the graph below. This graph shows the top US federal marginal tax rates on (1) earned income (in red) and (2) (where it diverges from the latter) ordinary income (in blue), from the the data here. And yet even with rates under Eisenhower and Kennedy, in terms of virtually every economic measure in the book, this period was a golden age of US capitalism. A more serious issue with Sanders is the tax on speculative activity, especially if it is meant to be a Tobin tax proposal. One has to be careful with this (see Davidson 2002: 205–210), as it may not be a good thing.What Sanders needs are good economic advisers, but I’m not sure who is advising him. What America also needs desperately is an industrial policy: government polices to incentivise, encourage and perhaps even subsidise re-shoring of manufacturing and accelerate a technological revolution in manufacturing to reduce costs of production, so that production in the US can compete against third world labour.BIBLIOGRAPHY Davidson, P. 2002. Financial Markets, Money, and the Real World. Edward Elgar, Cheltenham.
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Lord Keynes considers the following as important: bernie sanders, Eisenhower, socialist, tax rates
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In reality of course, Bernie is just an honest New Dealer who wants a Western European social democracy.
And as for the top US federal marginal tax rates under Eisenhower, we can see them in the graph below. This graph shows the top US federal marginal tax rates on (1) earned income (in red) and (2) (where it diverges from the latter) ordinary income (in blue), from the the data here.
And yet even with rates under Eisenhower and Kennedy, in terms of virtually every economic measure in the book, this period was a golden age of US capitalism. A more serious issue with Sanders is the tax on speculative activity, especially if it is meant to be a Tobin tax proposal. One has to be careful with this (see Davidson 2002: 205–210), as it may not be a good thing.
What Sanders needs are good economic advisers, but I’m not sure who is advising him. What America also needs desperately is an industrial policy: government polices to incentivise, encourage and perhaps even subsidise re-shoring of manufacturing and accelerate a technological revolution in manufacturing to reduce costs of production, so that production in the US can compete against third world labour.
BIBLIOGRAPHY
Davidson, P. 2002. Financial Markets, Money, and the Real World. Edward Elgar, Cheltenham.