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It's called the ratchet effect. The government doesn't like giving your money back. That's why taxes almost never go down, either - e.g. the "temporary" income
by amalgamated_inc 4y ago
It's called the ratchet effect. The government doesn't like giving your money back. That's why taxes almost never go down, either - e.g. the "temporary" income tax that only affects the richest 1% of people..
- qclibre22 4y agoFederal Receipts as Percent of Gross Domestic Product : https://fred.stlouisfed.org/series/FYFRGDA188S https://fred.stlouisfed.org/series/FYFRGDA188S
- amalgamated_inc 4y agoYes. Share ~ steady, but GDP growing - tax income growing.
- grumple 4y agoTaxes have been going down consistently for 50 years in the US.
- amalgamated_inc 4y agowhat
- grumple 4y agoBoth the marginal [0] and effective [1] tax rates have been trending downwards since WW2 with relatively little deviation from that. Pus this doesn't take into account all the ways wealthy people can avoid creating taxable income in the first place that generally aren't possible at lower income levels. 0. https://taxfoundation.org/historical-income-tax-rates-brackets/ https://taxfoundation.org/historical-income-tax-rates-bracke... 1. https://www.taxpolicycenter.org/taxvox/effective-income-tax-rates-have-fallen-top-one-percent-world-war-ii-0 https://www.taxpolicycenter.org/taxvox/effective-income-tax-...
- amalgamated_inc 4y ago"For the top 1%" On average, aka the vast majority of tax revenue, it's stayed constant according to your own source.
- idontpost 4y ago[dead]