Yes. Also, tax rates are higher today than they were in the 1970s. One data point: California statewide sales tax base rate was in the 3.75% to 5.0% range in

Yes. Also, tax rates are higher today than they were in the 1970s. One data point: California statewide sales tax base rate was in the 3.75% to 5.0% range in the 1970s. Today it's 6.25%. https://www.boe.ca.gov/sutax/taxrateshist.htm https://www.boe.ca.gov/sutax/taxrateshist.htm