This 1962 Life issue Parallels everything going on today.

[KINGOFSHORTS]

http://books.google.com/books?id=bU4EAAAAMBAJ&printsec=frontcover#v=onepage&q=&f=false

Interesting stuff. Folks living beyond thier means, Article on our growing deficit and dollar risk (balance of payments deficit). And of course the Market crash of 62

Article on a family spending 542 a month but only making 511 a month.

Pictures and all.

Just change the year and the amounts for 2009

 

[KINGOFSHORTS]

Wow top tax bracket was 90%!!!

There are some Millionaire 1040's in the article discussing Millionaire's Tax.

Pictures of the 1040's etc..

Cap Gain back then was 25%

 

[Arnie]

Maybe the "Nifty Fifty" will make a come back.

Old guys will know what I'm talking about.

 

[TGregg]

Check this part out.

. . . Dave earns an average of $511 a month. But before he ever gets his hands on the paycheck, $50 is taken out for witholding taxes and social security.

Holy #@*^! $511 a month in 1962 is like $3600 today (see http://www.westegg.com/inflation/infl.cgi ). And $50 is equal to $352.

So his gross is 3600 and he ony shells out less than 10% for all his payroll taxes including social security! And he gets money back every year. How far we've come in 58 years.

 

[KINGOFSHORTS]

Quote from Arnie:

Maybe the "Nifty Fifty" will make a come back.

Old guys will know what I'm talking about.

What about Ling-Temco-Vought, Gulf & Western, Avco Corp etc..