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A huge boom in the middle class, as witnessed by the end of the Great Depression through the 1970s, during which time tax rates were incredibly high on high inc
by themartorana 12y ago
A huge boom in the middle class, as witnessed by the end of the Great Depression through the 1970s, during which time tax rates were incredibly high on high income as compared to today.
Also closing gaps in income inequality, and continued spending by that larger percentage of middle-class population.
Or so history teaches us, which we're rather happy to ignore now.
- vasilipupkin 12y agoabsolutely, you are right that US tax rates on the very highest incomes were high. But overall tax burden was never as high. Remember, Sweden has both higher income taxes on the middle class than US ever had and high consumption taxes.
- refurb 12y agoI would argue the economy boomed during that period in spite of the high taxes, not because of them.
- themartorana 12y agoAbsent any evidence, I could argue that's an absurd position to take, based on a desire for something to be the exact opposite of the truth, just to fill a flawed political bent.