"Not one of these taxes existed 100 years ago, & our nation was one of the most prosperous in the world. We had absolutely no national debt, had a large middle class, and Mum stayed home to raise the kids."
the awful truth of it is, 100 years ago, i.e., in 1912, our nation did not have:
1. the transport systems we have now
2. the education system we have now
3. the medical services & technology we have now
4. many would-be Mums died in child birth
5. many would-be children died in child birth
6. many children died or were permanently disabled by a multitude of diseases
7. regulatory bodies to regulate finance & industry
8. social security for the unemployed, disabled & disadvantaged
9. etc
10. etc
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From Wikipedia, the free encyclopedi
1891- 16 small banks and building societies collapse in Melbourne
1892- 133 limited companies go into liquidation in Victoria alone
1893- major international depression
1893- Australian banking crisis of 1893: the Federal Bank collapses; many financial institutions, including several major ones, suspend trading
1894- The worst of the economic crisis was over and the task of rebuilding society started. There were some reforms to regulation and law with a view to preventing future abuse.
