The Death of Opportunity?October 23, 2012 @ 5:35 pm (Updated: 5:37 pm - 10/23/12 )
Grim news, but the New York governor pronouncing those words was Franklin D. Roosevelt in 1932 - at a time when the top tax rate was 63 percent, nearly double the rate today.
Alarmists have always mourned the end of mobility, and expressed foolish nostalgia for imaginary by-gone eras of brighter opportunity. Costly government programs and punishing taxes on the wealthy do nothing to promote true equality-or else the epic spending of the Obama administration and crushing taxes of the 1930's would have leveled the playing field, rather than contributing to economic stagnation and misery.
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