The Pardu

The Pardu
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Monday, July 2, 2012

The Examiner...... A look back: How Republicans fell off an economic cliff over the last century

Cross posted from the Examiner Dot Com

A look back: How Republicans fell off an economic cliff over the last century


Robert Sobel's photo

It wasn't too long ago that the Republican party looked much different than it does today. Compared to the current incarnation, the men and women who represented the Republican party of yesterday might not even be welcomed in today's GOP. As the years have gone by, conservatives across the country have taken steps to the right of the political spectrum and today are nearly falling off a cliff.
The current Republican party is no longer a party that relates to the average American. Whether it's economic or social issues or foreign policy, the Republicans take a far right stance with nearly every position. After the stock market crashed on October 29th, 1929, following three straight Republican presidencies over a 12 year period, President Franklin Roosevelt was sworn into office in March of 1933 and over the next 12 years got the United States back on its feet. Following the guidelines in his "New Deal," which included the creation of the Social Security program, Americans found themselves getting out of poverty and back into the workplace. After leading the country into a position to win World War 2, President Roosevelt passed away on April 12th 1945. His vice president, Harry Truman, became president and less than a month later, finished the war and the United States and their allies were victorious.
When the stock market crashed, the top tax rate was 24%. The top tax rate in 1923 was 56%, but was lowered to 25% in 1925 and pushed down further leading to the destruction of the American economy only a few years later. One of the main reasons the United States was able to bounce back was because the country was receiving more revenue from its citizens. The top tax rate was increased to 63% in 1932 and by the time President Truman left office in 1953, the top tax rate was 92%. When Republican President Dwight Eisenhower took office in 1953, the country was doing well. It was common place for only one parent in the household to work, easier to raise multiple children and a family could afford to send their children to college without having to worry about massive debts holding them down for years to come.
In the 1950s and 1960s, unions were strong, workers made a living wage and pension plans and vacation time were normal. Not everything was perfect in the 1950s as civil rights for African Americans, women and minorities were being fought and the horror of what was going on in the streets of America was disturbing. While the country had its ups and downs, both parties seemed to be able to sit down and have a conversation with each other, unlike in Washington today.
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