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Letters to the editor, May 18
The Hutchinson News
Letting the cat out of the bag
America s successful investor class complains their tax rates are too high. They are nowhere near the FDR-Eisenhower Marginal tax rates 92% for all income over $200,000, which led to America s economic Golden Age.
And besides, the source of their income is the capital they control, machines, delivery vehicles, factories, which originated from the working class to begin with. As President Lincoln pointed out, Labor is prior to and independent of capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.