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I take your point, (and I'm not supporting parents contention) but it's worth recalling that under Eisenhower the highest progressive marginal tax rate was some
by ska 8y ago
I take your point, (and I'm not supporting parents contention) but it's worth recalling that under Eisenhower the highest progressive marginal tax rate was something like 90% - hardly anyone's idea of a communist state. Unsurprising as the two concepts are quite separable.
- ryanwaggoner 8y agoAlmost no one actually paid that though: Between 1950 and 1959, he notes, the highest earning 1 percent of Americans paid an effective tax rate of 42 percent. https://slate.com/business/2017/08/the-history-of-tax-rates-for-the-rich.html https://slate.com/business/2017/08/the-history-of-tax-rates-...
- ska 8y agoYes that's true (and expected, after all that's what the "progressive" part means). Not supporting the silly 10 apartments thing. I'm just pointing out that progressive taxation, even with very high top marginal rates, is not socialism - and we do ourselves a disservice when we pretend it is.
- scotty79 8y agoIf UK had progressive property tax that only Duke of Westminster paid, it still would be massive gain for real estate affordability.
- AdrianB1 8y agoSo if you have on the flag more that one red star you are by definition excepted from communist or socialist measures? The world is more gray than black and white and USA has its share of socialism in it.
- ska 8y agoOf course not, that's silly. So is the idea that progressive property tax (regardless of it's merit or lack thereof as an idea) is logically dismissed as a inevitable step towards eastern-block style communism.