Liberals' biggest myth: Unions and high taxes caused the post WWII economic boom

Sep 2014
4,401
1,267
South FL
#91
Here is the real culprit

This meme doesn't survive even the slightest superficial inquiry. S Corps were, I think 1960, and LLCs 1980? (You can google the specific date of course). None of these entities pay tax at the corporate level. That doesn't mean tax doesn't happen, it just happens differently, and not at the corporate level.


"S corporations continue to be the most prevalent type of corporation. For Tax Year 2003, about 61.9 percent of all corporations filed a Form 1120S. The total number of returns filed by S corporations for Tax Year 2003 increased 5.9 percent to nearly 3.3 million, from nearly 3.2 million reported in Tax Year 2002. S corporations became the most common corporate entity type in 1997."

2003 IRS, bit dated of course. Doesn't even count LLCs. But at this point LLCs and S Corps vastly outnumber C Corporations. There is virtually NO circumstance where I would even consider a C Corp
 
Last edited:
Oct 2013
295
144
Upstate New York
#92
The narrative from the institutional left wing is that high marginal taxes on the rich coupled with strong unions "created America's middle class" and was the cause of the U.S. economic prosperity between 1945 and 1980. The starting point is credited to FDR's liberalism and the New Deal, high top marginal tax rates, and "strong unions," and the end of it is pinned exclusively on the inaugurations of Ronald Reagan and Margaret Thatcher.

That is the left wing gospel. It shall not be questioned or challenged. No other explanation is valid or welcome. And this narrative is continuous from the left wing. It is referenced constantly.

The narrative is a lie. A myth.

If High Taxes In The '50s And '60s Produced Good Growth, Then Let's Have High Taxes Again
Your opinion is duly noted.
 

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