By acting on what he professed to be John F. Kennedy's wishes, Lyndon Johnson enacted the U.S. Revenue Act of 1964, which lowered the top marginal tax rate from 91% to 70%. But that was not enough for the 1%. They wanted the power of their “economic liberalism” that they had lost when their greed and hubris created the Great Depression. They put up one of their own as a candidate in the 1964 Presidential election. Barry Goldwater, a card-carrying member of the racist John Birch Society and a vocal proponent of their "free market" economic policies. But his racist rhetoric and non-stop preaching on the "free market" system put off American voters so much that he could not connect with everyday Americans. He lost in a landslide defeat to Democratic Lyndon Johnson, 486 to 52 in the Electoral College. Because of that defeat, the Koch family and its racist John Birch Society were exiled beyond the far-right fringes of the Republican Party.
Forty-Years of Originalist B.S.
Forty-Years of Originalist B.S.
Forty-Years of Originalist B.S.
By acting on what he professed to be John F. Kennedy's wishes, Lyndon Johnson enacted the U.S. Revenue Act of 1964, which lowered the top marginal tax rate from 91% to 70%. But that was not enough for the 1%. They wanted the power of their “economic liberalism” that they had lost when their greed and hubris created the Great Depression. They put up one of their own as a candidate in the 1964 Presidential election. Barry Goldwater, a card-carrying member of the racist John Birch Society and a vocal proponent of their "free market" economic policies. But his racist rhetoric and non-stop preaching on the "free market" system put off American voters so much that he could not connect with everyday Americans. He lost in a landslide defeat to Democratic Lyndon Johnson, 486 to 52 in the Electoral College. Because of that defeat, the Koch family and its racist John Birch Society were exiled beyond the far-right fringes of the Republican Party.