[Vision2020] Sixty Years Ago Today (September 23,1952)

[Tom Hansen]

You may be on to something there, Mr. Freitag.

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What Things Cost in 1952:
http://www.tvhistory.tv/1952%20QF.htm
 
Car: $1,850
Gasoline: 27 cents/gal
House: $17,000
Bread: 16 cents/loaf
Milk: 96 cents/gal
Postage Stamp: 3 cents
Stock Market: 292
Average Annual Salary: $4,500
Minimum Wage: 75 cents per hour

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1952 - Top Federal Income Tax Rates
http://federal-income-tax-rates.theblaze.com/l/37/1952
 
DETAILS
Year	1952
Highest Income Tax Tier	$200,000
Top Rate on Regular Income	91%
Top Rate on Capital Gains	25%

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Seeya round town, Moscow, because . . .

"Moscow Cares"
http://www.MoscowCares.com
  
Tom Hansen
Moscow, Idaho

"We're a town of about 23,000 with 10,000 college students.  The college students are not very active in local elections (thank goodness!)."

- Dale Courtney (March 28, 2007)
 



On Sep 23, 2012, at 10:51 AM, Kenneth Marcy <kmmos1 at frontier.com> wrote:

> On 9/23/2012 8:21 AM, Kris Freitag wrote:
>> Actually $18,000 is probably  more than the Koch brothers paid in taxes period.
> 
> Just for a little perspective, $18,000 in 1952 dollars inflates to $146,192.55 in 2010 dollars. Sixty years ago, the median family income, that is, half of families above and half of families below that level, was $3,890, so $18,000 in 1952 was quite a bit of money from a personal perspective. It's unlikely that more than one percent of families earned $18,000 in 1952, so what might appear close to poverty today gave the opposite impression then.
> 
> Today the Koch brothers, Charles in Wichita, and David in New York, are tied at number 4 on the Forbes list of richest Americans with $31 billion each of personal wealth. [Forbes estimates Kansas-based Koch Industries as having $100 billion in revenues and 67,000 employees, making it the second-largest privately held company in the country. (The largest private company is Cargill, third is Mars, the candy company, fourth is PriceWaterhouseCoopers, the business auditors, and fifth is Bechtel, the construction company working at Hanford and elsewhere.)]
> 
> I don't doubt that the Koch brothers are aggressive arrangers of their financial affairs to minimize their taxes, but it seems likely that they paid more than $18,000, either together or individually. On the other hand, the average effective corporate income tax rate has been declining steadily over the last sixty years, to the point that it is about half what it was early in the Eisenhower years. The fact of the matter is that if Americans were to demand a return to "Checkers-speech era" corporate tax rates, the nation would be able to address many of its fiscal problems in more straightforward manners.
> 
> 
> Ken
> 
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