Friday, September 19, 2008
As I've pointed out before, Bush's tax cuts earlier this decade were the first time in American history that the American government cut taxes in a time of war. Let me repeat, tax cuts during wartime never happened before in our history.
So, when you hear about Joe Biden out there on the stump talking about how it is the patriotic thing to do to reset tax rates for those making over $250,000 to the levels they were before the highly irresponsible Bush tax cuts, bear this in mind:
[T]he idea that paying more taxes during war is an act of patriotism has quite a long and distinguished history in this country. During the Civil War, Representative Thaddeus Stevens--then chairman of the House Ways and Means Committee--said that "the annihilation of this government is the alternative" to increased taxation. To finance World War II, FDR actually proposed a tax that would have effectively capped incomes at $25,000 (or about $300,000 in today's dollars).
Check out the patriotism of taxes in this Donald Duck cartoon from WWII: