2 ms·
As far as growth being stronger with higher tax rates, I assume you're talking about post ww2 era? If so, then I think that was probably more to do with the fac
by hga 11y ago
As far as growth being stronger with higher tax rates, I assume you're talking about post ww2 era? If so, then I think that was probably more to do with the fact that the rest of the world was destroyed rather than due to our tax code.
And it was a short lived thing, by the mid-late '50s things were sputtering, and the top tax rate was 91% ("We like Ike?"). JFK-LBJ reduced that to 77% (https://en.wikipedia.org/wiki/Revenue_Act_of_1964 https://en.wikipedia.org/wiki/Revenue_Act_of_1964) to great economic effects (unfortunately, the increased tax revenues were not so much that LBJ couldn't do a guns and butter budget that almost bankrupted the nation, leading to a decade and a half of malaise).