Economic Constraints Quotes



Kennedy, with great Republican support proposed a reduction of the top income tax rate from 91% to 65%, reduction of the bottom rate from 20% to 14%, and a reduction in the corporate tax rate from 52% to 47%. That put the tax rates at the appropriate level. Economic growth was reasonable until President Reagan’s military spending cold war strategy produced huge deficits, Clinton raised the tax rates slightly and had the best economic growth ever, and had a balanced budget. George W. Bush lowered taxes had much slower growth and even larger deficits. However, by 2013 all hints of bipartisanship were gone. The Republicans claimed that the then tax rates were much too high—the highest income tax was half the rate that most agreed in 1962 was the right rate. And the corporate tax was 35 %, far lower than the Kennedy rate of 47% and incredibly lower when we consider that with deductions that were then in force the average corporate tax was only 12% the lowest since the Great Depression. Meanwhile the 2008 Bush Economic Meltdown and the Great Recession it produced the highest deficits in history with the lowest taxes in modern times and much of the polarized population demanding further tax cuts and an equal number demanding increased tax revenue.


At the time most people did not realize that the ability of a nation or land area to support a population was dependent more on agricultural and industrial productivity than on population size. In the most affluent and developed countries, land outside of the cities is quite affordable and available, whereas in poor, underdeveloped nations, land distribution and reform is still a factor. The majority of citizens of many developed, affluent nations do not own any land.