I'm older so I remember things. Everything you see happening today should be understood this way:

The top tax rate used to be 90% in order to prevent the really rich from destroying democracy.

The corporate tax rate was 50% because corporations exist to serve society.

AND the inheritance tax was really high to keep family dynasties from gaining power over us.

#taxes #democracy

@dcjohnson

Here's something else that's different!

U.S. Military Spending/Defense Budget 1960-2023

https://www.macrotrends.net/countries/USA/united-states/military-spending-defense-budget

U.S. Military Spending/Defense Budget 1960-2023

Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).

@waldenecovillage @dcjohnson I recall that the military budget was about $100 billion in 1980, so the chart is not adjusted for inflation. The % of GDP is encouraging news.