BLACKHAWKNJ
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- Dec 30, 2007
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Actually in 1966 people had somewhat more cash in their pockets. The Vietnam Era inflation hadn't started yet, the upsurge in state and local taxes hadn't started to climb. in his 1983 book Family and Nation Daniel Patrick Moynihan points out that in 1953 with an average annual income of $8,000 the first 3/4 was tax exempt, by 1983 only the first third. The tax revolt started in the 1970s, Proposition 13 was approved in 1978.
Actually in 1966 people had somewhat more cash in their pockets. The Vietnam Era inflation hadn't started yet, the upsurge in state and local taxes hadn't started to climb. in his 1983 book Family and Nation Daniel Patrick Moynihan points out that in 1953 with an average annual income of $8,000 the first 3/4 was tax exempt, by 1983 only the first third. The tax revolt started in the 1970s, Proposition 13 was approved in 1978.