Steadfast FinancesChartology: Historical View of National Debt vs. Federal Tax Brackets

Chartology: Historical View of National Debt vs. Federal Tax Brackets

Filed in Infographics & Chartology , Politics , Taxes 2 comments

Some very interesting chartology from one of my favorite chartist blogs,

As you can see, U.S. National Debt has its peaks and leveling off periods over our country’s history (on an inflation adjusted basis), but contrary to what you’ve probably been hearing on most mainstream media outlets, as well as fringe political pundits who like to shout rabble rabble without turning the same magnifying glass to their own teams past events, our national debt has steadily been increasing since the early 1980s after a long post World War II flatline.

Moreover, the correlation of federal tax brackets being lowered in the early 1980s while the federal government went on a borrowing spree over the next 30 years (aka – borrow and spend) became our nation’s default economic policy is worth noting.

Obviously, correlation does not confirm 100% causality, but information like this is certainly enough to put the hypocritical political talking point to bed that one party spends more than another and neither are deserving of calling themselves fiscal conservatives. Sadly, issues like these accomplish nothing but keeping the drama loving sheeple fighting amongst themselves, why I consider myself a “recovering” Republican and only strengthens the job security of various fringe group talking heads — from both political parties — whose rhetoric resemble that of entertainers, than valued political commentators.

Image Source & Credit
Doug Short
Debt, Taxes and Politics

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Posted by CJ   @   16 September 2010 2 comments
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Mar 13, 2011
8:31 pm
#1 Guitanguran :

Interesting in that the tax cuts by JFK resulted in no increase in the deficit.

Why is that?

Mar 13, 2011
8:39 pm
#2 Matt SF :

Good question. I don’t have an answer. Could be lots of reasons: dollar was on gold standard, fiscal conservatives were actually fiscally conservative, politicians hadn’t learned that running a negative budget (paying everyone with a hand out) won you elections.

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