St. Clown
Liberal Rebel Scum, apparently
Re: The PPACA Thread Part V: Doctor! Doctor! Give me the news!
Those historical rates are misleading as they're strictly nominal, not effective rates. Nobody was paying 91% of their last dollar earned in taxes, not when they could deduct their rug or lamp shades as home improvement expenses. Find a historical analysis of top-earning individual effective rates, and the graph will look much different, much more consistent. They're still paying less now, as a rate, than prior, but it's not such a drastic change.
Even Republicans who are rich are dumb. If you destroy the planet there's nowhere to keep all your stuff.
Imagine if real wages had kept growing from the 70s through now the way they did from the 30s through the 70s. Just imagine how rich shareholders and business owners would be now. In real assets, too, not just quack accounting.
Sadly, the only people who benefit from Republican economics are the rent-seeking rich who are incapable of thriving in a true free market with well-paid, well-informed customers. It's a mechanism for freezing social mobility and ensuring that nth generation heirs never drop back into the gen pop due to their incompetence. And the price of that is the entire American economy, not to mention the happiness and in many cases the actual lives and safety of hundreds of millions of people.
And all this happens in a democratic state -- people vote for it. There is absolutely no reason we couldn't restore the 1950 tax rates today. All we need are the votes.
<img src="http://t-a-x.net/wp-content/uploads/2016/07/tax-rate-history.jpg"></img>
Those historical rates are misleading as they're strictly nominal, not effective rates. Nobody was paying 91% of their last dollar earned in taxes, not when they could deduct their rug or lamp shades as home improvement expenses. Find a historical analysis of top-earning individual effective rates, and the graph will look much different, much more consistent. They're still paying less now, as a rate, than prior, but it's not such a drastic change.