Michael Tomasky is a liberal's liberal, He is the editor of The New Republic, a long-time liberal political maagazine and now web site. His theme is to refute trickle down economics in favor of the middle out, meaning economic success for ALL Americans by building up the middle class.
Labor strife/strikes after World War II led to health insurance being tied to employment as a nontaxable form of income. P. 29
From 1950 to 1973 the average GDP increase per year was 4.06% P. 30
In 1950 there were 24 income tax brackets as opposed to 7 today. P. 32
Higher marginal tax rates brought in more revue to the government and it was mostly spent well. The Marshall Plan to rebuild Europe cost 15 billion (180 billion in today's money). The Federal Highway Act of 1956 which started our interstate highways spent 100 billion over ten years which would translate to about 1 trillion today. (On the initial basis of military emergency). Military spending was high. P. 33
In the 50's the ethos of corporate was not to first enhance shareholder value to conduct business for the good of society, the public interest, and the country. In other words, responsible capitalism. What a difference compared to today. P. 34
"I am reminded of four definitions: A radical is a person with both feet firmly planted---in the air. A conservative is a person with perfectly good legs who, however, has never learned to walk forward. A reactionary is a somnambulist walking backwards. A liberal is a man who uses his legs and his hands at the behest---at the command of his head."
President Franklin Roosevelt, 1938
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