Lizzie Borden took a tax…

The late actor Jack Lord (“Hawaii Five-0″) was born 22 days before Republicans won control of Congress and the presidency in 1921 (and kept it through 1933). Republicans lowered the top marginal tax rate in stages from 73 percent in 1921 to 24 percent in 1929, the year we first shattered the world economy.

Democrats raised it to 92 percent in 1952 and 1953, the years unemployment fell to 3 percent and 2.9 percent. It stayed at 91 percent from 1954 to 1963 while unemployment averaged 5.4 percent per year, the Dow grew 17.2 percent per year and national debt rose 1.27 percent year.

Except for 1968-1970, it was lowered by Democrats to 70 percent between 1964-1980, while unemployment averaged 5.5 percent per year, the Dow rose 2.6 percent per year and national debt rose 11.2 percent per year.

Republicans lowered the top rate in stages to 28 percent between 1981-1990 (Kristen Shepard shot J.R.), while unemployment averaged 7.1 percent per year, the Dow rose 17.1 percent per year and national debt rose 22.4 percent per year.

Between 1991 and 2000 it was raised twice (Gap blue dresses weren’t cheap) to 39.6 percent, while unemployment averaged 5.6 percent per year, the Dow rose 31.3 percent per year and national debt rose 5.48 percent per year.

Between 2001 and 2010, Republicans lowered it in stages to 35 percent while unemployment averaged 6.1 percent per year, the Dow rose 0.87 percent per year and national debt rose 13.3 percent per year.

“Book ‘em Danno.”

Keith Taft

Van Buren

http://bangordailynews.com/2011/10/19/opinion/thursday-oct-20-2011-quimby-question-1-and-taxes/