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I'm not in the US but last time I've checked the top federal tax rate today is higher than it was in the Reagan era. The federal income from taxation (as % of G
by dogma1138 8y ago
I'm not in the US but last time I've checked the top federal tax rate today is higher than it was in the Reagan era.
The federal income from taxation (as % of GDP) remained fairly since WWII stable: https://en.wikipedia.org/wiki/Income_tax_in_the_United_States https://en.wikipedia.org/wiki/Income_tax_in_the_United_State...
But sure i'll hear you out what tax brackets do you think we should implement? where do you put the cap?
- lisper 8y agoScroll down to the bottom of that page to the "Income tax rates in history" section. Observe that the top marginal rate was as high as 91%, and did not drop below 80% in the entire period between 1936 and 1981.
- dogma1138 8y agoI know what it was but that wasn’t ever in reality actually the case almost no one paid the exesses taxes during, heck forget almost no one paid that marginal rate. So you want 91% tax from what amount?
- lisper 8y ago> almost no one paid that marginal rate. That's true, because almost no one made enough money to pay it. That's one of the reasons that it wasn't harmful. > So you want 91% tax from what amount? I dunno, $5-10M or so. I also think that you should be able to defer the recognition of income so that you don't get dinged too heavily for one-time windfalls. But I think anyone regularly making $5-10M/yr should be paying a lot more than they currently do.