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"taxes in the US are far more progressive than they used to be." How do you figure? Between 1936 and 1989, the tax rate for the top income bracket varied betwe
by grasshopperpurp 9y ago
"taxes in the US are far more progressive than they used to be."
How do you figure? Between 1936 and 1989, the tax rate for the top income bracket varied between 63% and 91%.
https://qz.com/74271/income-tax-rates-since-1913/ https://qz.com/74271/income-tax-rates-since-1913/
- Shivetya 9y agobecause tax rate on income is meaningless when they don't have income and when tax rates were high their incomes vanished. that is the true history and true facts
- grasshopperpurp 9y agoPost I responded to said, "taxes in the US are far more progressive than they used to be." A progressive tax rate is one that increases as the taxable amount increases. So, I could be missing something, but I don't see how your post addresses my response. Saying it's meaningless doesn't change the definition of a progressive tax rate. https://en.wikipedia.org/wiki/Progressive_tax https://en.wikipedia.org/wiki/Progressive_tax
- opo 9y agoThe "top marginal rate" means very little by itself. What matters is the effective rate which takes into account the credits/deductions that are allowed, the other lower tax rates, etc. For example, the top 10% paid 49% of taxes in 1980 and paid 70% in 2014. (http://www.ntu.org/foundation/page/who-pays-income-taxes http://www.ntu.org/foundation/page/who-pays-income-taxes)