5 ms·
It's hard to take the author credibly when he trots out the trope about 91% marginal tax rates and 50% corporate tax rates. Yes, they existed. But those number
by gwbrooks 5y ago
It's hard to take the author credibly when he trots out the trope about 91% marginal tax rates and 50% corporate tax rates.
Yes, they existed. But those numbers don't matter. What does matter is federal revenue as a share of GDP, an apples-to-apples comparison across years. And it turns out that number doesn't vary a whole lot.[1]
[1] Figure 2: https://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government https://www.taxpolicycenter.org/briefing-book/what-are-sourc...