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The tax rates from Eisenhower to Nixon
From KiriPedia, the archive of John Kiriakou's on-record words
Based on 1 recorded interview · Last updated
John Kiriakou's explanation for the American wealth gap and the size of the deficit, that from Eisenhower through Nixon the top rate of tax ran upwards of seventy-five per cent and the wealthy whittled it down from there, whereas now they begin at almost nothing and whittle down from that.
The tax rates from Eisenhower to Nixon is John Kiriakou’s explanation for two things he treats as the same problem: the size of the federal deficit and the concentration of American wealth.
The argument
Provoked by a viewer’s observation that the wealth gap was at its smallest and the middle class at its strongest in 1973, Kiriakou made two points. The first was a blessing: “God bless Richard Nixon and his economic policy, number one.”[1]
The second was the rate structure. “Starting with Dwight Eisenhower and going through Nixon, tax rates were the highest against the wealthiest people”, “the basic tax rate for the wealthiest people was upwards of 75%, and they could whittle it down from there.” He grants that the same write-offs existed then as now.[1][2]
What changed is the starting point rather than the loopholes: “now they pay almost nothing to begin with and whittle it down from there. And then we can’t understand why our deficits are so enormous and why there’s such a wealth gap. That’s why there’s a wealth gap.”[2]
The wages of the period
Kiriakou anchors the argument in a childhood memory rather than a statistic. “One of my earliest memories, my dad came home one day, I think I was four. My dad came home one day and he said to my mom, ‘Honey, I got a raise.’ And she said, ‘You did?’ And he shows her this letter. And he was making $6,800 a year. And then I remember my mom saying, ‘Just imagine, honey, if you could make 7,000, we’d be on easy street.’”[3][4]
Sourced from John Kiriakou's on-record public statements. See his profile for the full body of his interviews, podcast appearances, and short-form video.
