Well, it was the biggest intact industrial economy, but not the only one. If by “power” you mean among nations that had a historical habit of staging major wars, then yes, the U.S. was basically untouched while rivals like the U.K., France, Italy, Germany, Russia, Japan and China had been clobbered to various degrees.
I find it interesting that on this list of highest 1950 per-capita GDP countries, the U.S. is indeed first, but closely followed by Switzerland, New Zealand, Venezuela, Australia and Canada, none of whom were systematically or strategically invaded, bombed or shelled (some airfields and harbours in northern Australia were attacked, most notably Darwin in 1942, but not the industrial centers in the southeast).
I’ll need to do a lot more reading on the topic, I admit, but while the U.S. was the biggest untouched industrial center, it was not alone.
Strangely enough, early attempts at enacting an income tax were centered around this concept. The income was sold literally as a “stick it to the rich” proposal. As the years passed it became decidedly less so.
The first rates were low and started at 2% on incomes over the equivalent of $600,000 in today’s money. Tax rates were indeed a lot higher by the 40s, 50s and 60s but hardly anybody paid those rates, because of deductions. Credit card interest deduction went away as part if the Reagan era tax reform as I recall. Tax rates were lowered, but many if not all the myriad deductions and loopholes were closed up.
I start with the premise that nobody has a right to anyone elses labor. Seems fair to me.
I like the idea my friend promotes about free college: students don’t need to pay, but they must commit to some kind(s) of public service throughout their subsidized education to keep their eligibility.
Along these lines, the same deal should be offered to Fed. Student Loan holders. I certainly would contribute more to society by tutoring students/teaching GED courses in a women’s prison and then than sending the Gubbernment $400 a month.
I agree that workers who make less than 1.5 the Federal Poverty Level should be/remain income tax-free.
In my perfect world the following folks would only pay into SSN, retirement, Medicare, etc, and would be excused from income taxes. This deal would effectively raise salaries and make these jobs more desirable and competitive (again, in my perfect world):
-K-12 public school teachers
-Law enforcement
-Daycare/ECE educators
-Social workers
-Some medical professionals (maybe eldercare and nursing in low income areas)