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Tax And Unemployment Rates History

1929 to 2016

Rigging the tax code to pay as little as possible has been Republican dogma since the IRS (Internal Revenue Service) was established.  As a result, every single time Republicans have been in control of the government, their irresponsible tax-cutting policies have been responsible for serious economic downturns, high unemployment, increased income inequality, poverty and insecurity all across America.
Tax And Capital Gains Rates
President Elected Before After Capital Grains Left Economy
Donald Trump (R)2 2017 39.6
Barack Obama (D) 2009 & 2013 35 39.6  15 Better
George W. Bush (R)2 2001 & 2005 39.6 35  15 Great Recession
William J. Clinton (D) 1993 & 1997 31 39.6  28 Better
George Bush (R) 1989 28 31  28 Worse
Ronald Reagan (R) 1981 & 1985 70 28  20 Better
Jimmy Carter (D) 1977 70 70  35 Better - Oil Crisis
Richard Nixon/Gerald Ford (R) 1969 & 1973 70 70  35 Worse
Lyndon B. Johnson (D) 1965 70 70  6.9 Better
John F. Kennedy/Lyndon B. Johnson (D) 1961 91 70  25 Better
Dwight D. Eisenhower (R) 1953 & 1957 92 91  25 Worse
Harry S. Truman (D) 1949 91 92  25 Better
Franklin D. Roosevelt/Harry S. Truman (D) 1933, 37, 41, 453,4 63 91  25 Better
Herbert C. Hoover (R) 1929 25 63  12.5 Great Depression
Unemployment Rates
President Elected Before After Left Economy
Donald Trump (R)2 2017 4.7 - -
Barack Obama (D) 2009 & 2013 9.9 4.7 Better
George W. Bush (R)2 2001 & 2005 3.9 9.9 Great Recession
William J. Clinton (D) 1993 & 1997 6.5 3.9 Better
George Bush (R) 1989 5.3 6.5 Worse
Ronald Reagan (R) 1981 & 1985 7.2 5.3 Better
Jimmy Carter (D) 1977 7.8 7.2 Better - Oil Crisis
Richard Nixon/Gerald Ford (R) 1969 & 1973 3.4 7.8 Worse
Lyndon B. Johnson (D) 1965 5.0 3.4 Better
John F. Kennedy/Lyndon B. Johnson (D) 1961 6.6 5.0 Better
Dwight D. Eisenhower (R) 1953 & 1957 2.7 6.6 Worse
Harry S. Truman (D) 1949 4.0 2.7 Better
Franklin D. Roosevelt/Harry S. Truman (D) 1933, 37, 41, 453,4 14.6 1.2 Better
Herbert C. Hoover (R) 1929 4.2 23.6 Great Depression

The Economy Under Republicans

Warren G. Harding (1920-23) presided during the Teapot Dome Corruption Scandal and was considered by historians as one of the worst presidents.

Calvin Coolidge (1923-28) presided during the Roaring Twenties, disdained regulation and his laissez-faire ideology has been blamed by some contemporaries and historians as the initial cause of the Great Depression.

Herbert Hoover (1929-32) has been blamed by some historians for his failure to act during the onset of the Great Depression, which devastated

the U.S. and world economies.  They were all Republicans!

With the exception of the 1948 elections, when Democrat Harry S. Truman was reelected, American voters have elected Democratic presidents only when the economy has been in a state of severe recession or depression and unemployment rates have risen to intolerable levels — under Republican administrations.

Franklin Roosevelt in 1932 and Barack Obama in 2008 are salient examples of this counterintuitive and disturbing pattern, which Democrats might characterize as "We fix the economy and Republicans screw it up!".

The Economy Under Democrats

Since 1920, there have been 25 elections for the presidency.  Of these, 13 were won by Republicans and 12 by Democratic Candidates.

After every single Republican administration left office, very serious economic downturns and unacceptably high unemployment have resulted as a consequence of irresponsible, Republican tax-cutting policies, e.g., 1932, 1960, 1976, 1992, 2008.

Luckily, by employing responsible, economic policies, Democrats have been able to bring unemployment rates down and stabilize the economy following every Republican-made downturn.

Given the aforesaid, one would think that Democrats would win more elections but this is not the case!

Unfortunately, in spite of the economic downturns and suffering caused by Republicans' irresponsible policies, once the economy is "normalized" by Democratic administrations and the future looks brighter, American voters go back to electing Republicans to the White House (e.g., 1952, 19681, 19802, 1988, 2000, 2016).  The reason?  Republicans always promise to lower taxes!

Undoubtedly, tax cuts have great appeal to the millions of American whose main concern is having "enough income" to support their families — something Democrats must not lose sight of if they want to be elected.

Our Fair Automatic Simple Tax ("FAST") was designed to address the income issue. Under this plan, tax rates for lower-income taxpayers will decline — but everyone will pay their fair share.

 Footnotes
  1. Source: Bureau of Labor Statistics (Select year range from drop-down boxes on top of page) https://data.bls.gov/timeseries/LNS14000000
  2. Lost majority vote
  3. Source: infoplease http://www.infoplease.com/ipa/A0104719.html
  4. U.S. actively involved in World War II from December, 1941 to 1945
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