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Would you argue that it was fairly characterised (especially be people who advocate government intervention) on the whole? Would you argue there was a better example for prosperity through free enterprise in America?
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I've often heard of Friedman talk about the 19th and early 20th century as the greatest era for economic prosperity and rebuff the 'Robber Baron' myth. Where do the Austrians stand and do they agree?
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Thanks for that, I will read it. I was also looking at tax revenues decade on decade for the past century and it has been growing a lot. That would also explain the fact that, even with tax decreases, the rich are paying more than they did when the tax rates were far higher. I read somewhere also that the top 1% pay 40% of all tax revenues now compared
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The CRS has given a report saying the above. http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf I have always heard that during the mid 1950s there were a lot of tax breaks which essentially meant that the rich weren't paying as much as were originally stipulated for. And that now, even with top tax rates being lower that growth