Thread: Economics "Soak the rich" is pure folly
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Old 07-08-2011, 08:19 PM   #11
alnorth alnorth is offline
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A few relevant charts:



So, a guy making over 10 million generally pays a lower effective rate than a guy making $750,000, due to capital gains. (which historically has generally been somewhere between 20% and 28% until GWB was elected)

Also:



(That is the top marginal income tax rate)

Compared to:



I'm not suggesting that we hike the top rate back over 50% like it was before Reagan, but the 1950's and 60's didn't seem that terrible.

Listening to the right fringe, you'd think that if the top tax rate goes up just ~3% back to where it was during Clinton, we'd have a global meltdown and unemployment over 25%. There's obviously other things going on with jobs than just the top marginal rate.
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