Here is the problem that America is facing today. We have two generations that have been taught and believe that everything should be free. They have taken the bait of promised give aways and fail to understand that nothing is free. America has chosen the way of socialism through the Democrat platform of promises. The day will arrive when the tax rate is so high in Americal that people will be slaves of the state. When we hit the 80% tax bracket, who and what will be “FREE?” Americal has lost her way and the fundamental principles she was built upon. The change has already taken place, judgment has fallen, and America is dead. With two lost generations — America has lost her soul.
I disagree. For one, marginal tax rates before Reagan have been in the area you speak of - around 70%. He took them down to the 20%’s. We’re still in the same area, and, there’s lots of us out there like me, making it in the real world, with only our skills and entrepreneurial drive that keeps us running.
While that exists, America’s soul is alive and well.
Not everyone can be an entrepreneur, and not everyone can take the risks. But as long as there are those of us that will, the American Dream lives. And from where I stand, it’s doing quite well.