Quote:
Originally Posted by Damien
America had a pretty high rate of taxation until the late 80s. In the 60s/70s/80s it was approaching the rate France are at now. Even in the 90s they had a rate at 40% which for a country that is often considered low taxation is pretty high.
http://taxfoundation.org/article/us-...usted-brackets
Yes, the gains were kept and the losses are socialised. |
At least until the time when the banks in question recover sufficient of their value that they can be sold to repay that debt.