Monday, July 18, 2011

Historical High Marginal US Tax Rates Applied To A Higher Income And Smaller Base Than Now Proposed

From The Wall Street Journal, "Get Ready for a 70% Marginal Tax Rate" by Michael J Boskin:
Some argue the U.S. economy can easily bear higher pre-Reagan tax rates. They point to the 1930s-1950s, when top marginal rates were between 79% and 94%, or the Carter-era 1970s, when the top rate was about 70%. But those rates applied to a much smaller fraction of taxpayers and kicked in at much higher income levels relative to today.
Read the complete article here.

1 comment :

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