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.
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Monday, July 18, 2011
Historical High Marginal US Tax Rates Applied To A Higher Income And Smaller Base Than Now Proposed
Posted By Milton Recht
From The Wall Street Journal, "Get Ready for a 70% Marginal Tax Rate" by Michael J Boskin:
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