At this time of growing concern for the War on Terrorism, looming war in Iraq and who knows what with North Korea, it is alarming to see the call by President Bush for lower tax rates, particularly for those in the highest brackets. While it is extremely popular to fly the flag and to outwardly express patriotism for our country, it is apparently not very popular to want to pay for our nation�s increasing needs - rather to pass those costs on to our children and grandchildren through higher government debt.
Fortunately, previous generations were more generous in their support for our nation. During World War I the highest federal tax rates were over 75% . During World War II those earning more than $200,000 paid a federal tax rate of 90%. During the Korean Conflict the tax rate on incomes over $400,000 exceeded 90%. Throughout the entire Vietnam era a tax rate of at least 70% was applied to those incomes over $200,000. Today the highest federal tax rate is 38,6% for all income over $307,000 and even that rate, according to the President, is a burden for the rich to pay. What a shame that the patriotic fervor of the most blessed Americans is to wave the flag for lower taxes while rallying behind the Presidential calls for war and increased debt.