What Was the MTR in the Decade Before The Depression?
Can The Republican Party recover from their politics? (I hope not).
During the 8 Reagan years, when marginal rates were sharply cut (but deficits were substantial), equities on the NYSE and the S & P 500 about doubled.
During the 4 Bush 41 years, when the top MTR was increased (only slightly), equities rose about 50%.
During the 8 Clinton Years, when MTRs were substantially increased, equities tripled, deficits turned into large surpluses (as far as the eye could see, leading some to fear that the Fed would be unable to conduct monetary policy if the public debt was redeemed).
The market today is roughly where it was (a bit higher) when Bush 43 took over, who cut MTRs, but ballooned the deficit.
So, Bush 41 and Clinton raised MTRs without tanking the economy, and Clinton left Bush 43 with a fabulous fiscal situation.
So much for the Republican argument that reducing MTRs is the nirvana of tax/economic policy and raising MTRs its death knell.
And in the decade before the Depression? Go find out for yourself. You won't want to believe me.