5 ms·
Yes, the out of control entitlement state which collects... significantly less taxes than most of the 20th century. I hate to sound like a populist, but for go
by Aloisius 14y ago
Yes, the out of control entitlement state which collects... significantly less taxes than most of the 20th century.
I hate to sound like a populist, but for goodness sake some perspective is necessary.
- dantheman 14y agoThere's a difference between tax rate and effective tax rate; the high taxes of yore were never really paid by anyone with money.
- eli 14y agoPrett sure the effective tax rate is declining as well...
- romeodelight 14y agoThe average effective corporate tax rates last year was 12.1%
- javert 14y agoAFAIK your claim is factually untrue by a very large margin. Care to explain?
- Aloisius 14y agoThe top marginal tax rate averaged about 54% for the 20th century: http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213 http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Doc... It peaked at 94% during WW2, but even absent of any wars, it was significantly higher than it is now (35%). It was even worse once you work out how much more progressive our tax is now than it used to be. In 1982, you were paying 50% federal tax on all income above $106K (about $200K in today's dollars). Now the top tax rate doesn't even kick in until after $388K. People today are paying historically low tax rates mostly because of the Republican's cynical attempt to "starve the beast" in order to reduce spending - which I might add is entirely backwards as it gives everyone what they want and no one feels any pain. If they really wanted to reduce spending, they'd force tax raises so everyone felt the consequences of every new government program.
- orangecat 14y agoYes, the out of control entitlement state which collects... significantly less taxes than most of the 20th century. Spending is just deferred taxation, and spending keeps going up. Yes, after adjusting for population and inflation: http://www.usgovernmentspending.com/spending_chart_1970_2017USd_13s1li111mcn_F0t http://www.usgovernmentspending.com/spending_chart_1970_2017...