What Color Will the Next Tax Increase Be?

If the shoots are green, what color will the next tax increase be? This chart data comes from the Daily Dose of Excel Blog. The US Income Tax was started to pay for the Civil war. More history here.

Trivia for the day taken from the excellent book "Since Yesterday 1929-1939" by Fredrick L. Allen:

The top Tax payer in the US in 1936 was William Randolph Hearst. The #2 tax payer was Mae West with $430k in earnings. The book is a great read and talks about the culture, fashion, economics and politics of a process known as the Great Depression. It reads like a newspaper from today which is kind of scary. Economically we are in 1932-33 as near as I can tell.

Anyone wanting to understand the unfolding economic and cultural process that was "the depression" may want to read Since Yesterday, it is one of the best books I have read in a quite some time.

Comments

[cocomurph:]

"...Economically we are in 1932-33 as near as I can tell...."

Based upon what? Unemployment rate? Nope! GDP decline rate? Nope!

Media hype? Yep!

"Don't bother me with facts, I know what I believe..."

Jun 18 08:10 AM

[fireball:]

looks like it might be an interesting read. at least those two characters are interesting.
the next tax will be red on the inside just as most always are.

Jun 18 08:20 AM

[Nick Gogerty:]

I guess I should have qualified my "it looks like 1932-1933" statement. It was in regards to national mood and policy respone: AKA new Democrat president in office and Green Shoots being seen while the country slowly realizes what is going on. The mood of the country as described in the book "Since Yeserday" also seems to parallel today's media in general.

Jun 18 12:30 PM

[User 422955:]

An SA article some time back pointed out that the current financial problems are much more a "financial panic" than an "economic depression." The US had financial panics in 1873, 1883, and at other times. Other countries have also suffered through them.

Jun 18 04:54 PM