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Tax cuts, wars widen gap between rich and poor
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When FDR was trying to win World War II, his federal income tax rate was 90 percent because he said if we lost the war, the rich would lose the most so he didn't think they would mind paying 90 percent.Now, you parallel this with today's Republicans who believe in the trickle-down theory that hasn't worked for at least the last ten years. President Bush lowered the federal income tax from 39.6 percent where President Clinton had it down to 35 percent where it presently stands. Now, President Obama is talking about raising taxes on the wealthy but he hasn't been quite specific as to what level.