Quote:
Originally Posted by Polycaster
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The mid 20th century tax rate isn't comparable to the current tax rate as they had a massive amount of exemptions back then; you don't honestly think the rich would ever allow themselves to be taxed at 90%+? [You must be logged in to view images. Log in or Register.]
made up example: tax rate is 90%, but they can exempt 50% of their income from it, so the effective rate is 45%.
I remember reading something that although tax rates have varied wildly, the amount as a % of GDP has remained fairly constant since 1940 when the amount skyrocketed. |
I was hoping someone smart would explain it. Can you delete this?