[Homer_J_Simpson]

If you would like to be added to or deleted from the Real Time +/- 70 Years ping list, send me a freepmail. You can also search for these articles by the keyword realtime, going back to the first one on January 27, 2008. These articles are posted on the 70th anniversary of their original publication date. See my profile for additional information.

[Homer_J_Simpson]

From “News of the Week in Review.”

[KarlInOhio]

About $6 billion of taxes for Fedzilla seventy years ago compared to over $2.5 trillion now. That’s a 417 time increase. Even counting currency devaluation (14.78x) and population increase (2.3x) that is still 12.3 times as much tax per person for the federal government as back then.

[PeterPrinciple]

Interesting note that the committee recommended lowering the exemption so that lower income people paid part of the tax. Even then total tax revenues were paid mostly by the wealthy.

[PeterPrinciple]

This was probably the beginning of the discussion on withholding taxes. Think about it. You paid your taxes the year after you earned the income. If you want to institute withholding, how are you going to get people to pay last year's taxes and this years taxes in the same year?

Does anyone remember how they did this? (test time)

[BroJoeK]

I think most of us here consider FDR's strategic senses in preparing for, leading and winning the Second World War as pretty near the "genius" level.

But when it came to economics, FDR must have been some kind of dolt, as every economic policy seems to have only made the Great Depression linger and deepen.

This article looks typical, in that no-where does it express a sense that the REASON revenues were down in 1938 is because of poor government economic policies.

Sadly, in today's world, our current Democrat leadership seems to have inherited none of FDR's strategic brilliance, and all of his abysmal economic nonsense.