At Saturday night’s Democratic presidential debate (which I didn’t watch, it went on past my bedtime), Bernie Sanders answered questions about his plan to increase the marginal tax rate for the very rich:
“We haven’t come up with an exact number yet, but it will not be as high as the number under Dwight D. Eisenhower, which was 90 percent,” Sanders promised. The crowd laughed almost nervously at the high number. But Sanders quickly reassured them.
“I’m not that much of a socialist compared to Eisenhower.” The audience roared.
And here is what I wrote in a comment at Politico four months ago:
Sanders wants to raise the marginal tax rate for top earners to more than 50 percent?
That’s outrageous! During the Republican Eisenhower administration of the 1950s, the marginal tax rate for top earners was more than 90 percent. It was also a period when the incomes of all Americans increased at approximately the same rate.
Now that was some serious socialism!
And in case anybody is wondering: my endorsement of Hillary Clinton still stands. But I’d like to see Bernie in the Senate giving her hell when he thinks she’s wrong.
