3 ms·

source?

• SJC_Hacker 2y ago
  Tax revenue as a percentage of GDP historically has floated around 18% https://www.ceicdata.com/en/indicator/united-states/tax-revenue--of-gdp#:~:text=US%20Tax%20revenue%3A%20%25%20of%20GDP%20data%20is%20updated%20yearly%2C,low%20of%2013.7%20%25%20in%202009. https://www.ceicdata.com/en/indicator/united-states/tax-reve... Here's the income percentage held by the top 1% 1950-2010 http://piketty.pse.ens.fr/files/capital21c/en/Piketty2014FiguresTables.pdf http://piketty.pse.ens.fr/files/capital21c/en/Piketty2014Fig... While its true that its higher now than it was the 1950s-1980s, its an increase of about 15%. It if was the case that the very high marginal rates were actually being paid, you would expect the percentage of income held by the top 1% to be much higher. Here's another source with more direct comparison - how much their income they actually paid in tax https://taxfoundation.org/data/all/federal/taxes-on-the-rich-1950s-not-high/ https://taxfoundation.org/data/all/federal/taxes-on-the-rich...