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Almost 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.
by ryanwaggoner 8y ago
Almost 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.