A Quote by Michael Shnayerson
In the Eisenhower era, when earnings over $400,000 were subject to 91 percent taxes and the world was a smaller place, you could count the truly wealthy on one hand: Getty, Dupont, Mellon, Rockefeller, though even those fortunes were being dispersed to children as the old robber barons died off.
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Barack Obama is talking about cutting taxes. On net, he is a tax cutter. But the difference between Obama and John McCain is that Obama is raising some taxes on families, for example, with incomes over $250,000. Now, that amounts to about 2 percent, the richest 2 percent of American households. And even with those tax changes, even with all of the tax changes Obama's talking about, taxes will be lower under Obama than they were under the Clinton years.
According to the Tax Foundation, the average American worker works 127 days of the year just to pay his taxes. That means that government owns 36 percent of the average American's output-which is more than feudal serfs owed the robber barons. That 36 percent is more than the average American spends on food, clothing and housing. In other words, if it were not for taxes, the average American's living standard would at least double.
There were no jobs created in America from 1945, when the war ended, through 2003. How could there be? Taxes were too high. Preposterously so under Eisenhower, Kennedy, Nixon, Reagan (who left office with a 28 percent rate on long-term capital gains) and Bush the Elder.
If we really believed that those who are gone from us were as truly alive as ourselves, we could not invest the subject with such awful depth of gloom as we do. If we could imbue our children with distinct faith in immortality, we should never speak of people as dead, but passed into another world. We should speak of the body as a cast-off garment, which the wearer had outgrown; consecrated indeed by the beloved being that used it for a season, but of no value within itself.
In 1940 I was just turning 5 years old and being taken to the movies. For those of us who were not old enough to understand the horror of war it was a very romantic era because these guys were kissing their wives and girlfriends goodbye and going off to fight and become heroes.
There were about 400 heads of state from countries all over the world. I walked out and played 'Hotel California,' and everybody in the place gave me a standing ovation, and half of those countries don't even speak English.
Take crack cocaine. Particularly in the early days of the policy, ninety percent of the people being arrested were black, even though they didn't use the drug at higher rates and even though their numbers in the general population are so low. How could that be? The thing is, you place all your resources in communities of color. And if you do that, you're going to arrest black people.
Hillary Clinton, told a reporter that she and Bill aren't truly well-off, even though they're incredibly rich because they pay income taxes like everybody else. In fact, she says, they were so poor when they left the White House, they could hardly afford Bill's website memberships.
Lincoln made mistakes. Roosevelt made mistakes. Eisenhower made mistakes. The Battle of the Bulge was the biggest intelligence failure in American military history, much bigger than any in Vietnam or now. We didn't know that the Soviets were moving 400,000 or 500,000 troops. We missed it.
In 2013, 71 percent of black children in America were born to an unwed mother, as were 53 percent of Hispanic children and 36 percent of white children. Indeed, a single parent is the new norm.
I was just very interested in the American frontier and the growth of capitalism - those enormous fortunes that were being made, more often than not, on the blood of poor people, black people, Indian people. They were the ones who paid very dearly for those great fortunes.
I did play Ramses II once, who lived to be 91 and had 120 children, but he died 4,000 years ago.
I’ve always liked to read about extremely wealthy people, especially when they are crazy (like Howard Hughes or Caligula.) While writing this book I did a lot of fun research on robber barons like Rockefeller and Morgan. But the most helpful stuff came from studying royal families and mad emperors. The best book I read was probably A King’s Own Story, which is the memoir of Edward VIII. Also, anything about Ivan the Terrible or Ted Turner.
In those days it was possible for a Greek to flee from an over-abundant reality as though it were but the tricky scheming off the imagination-and to flee, not like Plato into the land of eternal ideas, into the workshop off the world-creator, feasting one's eyes on the unblemished unbreakable archetypes, but into the rigor mortis off the coldest emptiest concept off all, the concept of being.
It is a myth that higher taxes lead to less demand and slower growth. In the first three decades after World War II, US top tax rates on the wealthy were never below 70 percent.
The Gilded Age robber barons - the Goulds, the Vanderbilts, the Morgans and Rockefellers - did quite well under laissez-faire. Most of the rest of Americans were still stuck in the ditch, with little to no economic security, life expectancy of roughly 45 years, and horrific infant mortality rates that claimed 300 babies per 1,000 in the cities.
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