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No one paid 90%. In those days there were thousands of exemptions and deductions.
Did you sleep through 9/11?
Yes, there were a lot of deductions, but the top payers still paid around 48%, which was pretty reasonable.
As far as 9/11, yeah, that was bad, but Bush had exactly the wrong solution.
Cutting taxes might have made sense when Kennedy did it in 1962 to stimulate the economy, but it made no sense in 2001. the problem in 2001 was not a lack of capital, it was an overage of inventory because most companies had overproduced during the 1990's. Hense, they cut back on manufacturing until the inventories were used up.
Not that Conservatives are even making that argument anymore about tax cuts stimulating the economy being a good thing. No one buys that anymore. Now the argument is pitting the "earners" against the "takers". When in reality, the takers are usually people who worked hard all their lives and found the "earners" had looted their company's pension funds.
Dumb, POS, or Liar you pick.
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