Naturally, the same week we kick-start a nat’l convo on marginal tax rates endorsed by Nobel-Prize winning economists, I’m being described as “vacuous.” If you’re allowed to characterize female politicians as “unlikeable,” are we allowed to describe takes like these “resentful?”https://twitter.com/MaxBoot/status/1082596717445419010 …
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All post war presidents before Reagan had 70% or higher marginal tax rates.
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The rich used tax loopholes so that their effective tax rate was 40% at max during that time. You would have the same happen here if they tried it, or the rich would simply leave like they did in France. In the end, the plan is really, really dumb.
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The plan is a start..it can evolve and be strengthened by experience..if there is a better way then it should be debated. I suspect that your disagreement is not with the means as much as the end goals..
End of conversation
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And he as a PHD and MD. Thanks for letting us know that before spouting off a useless tax rate from the 50’s. Our tax system is both more progressive and raises more % GDP than the 50’s too.
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Yes that’s true but their effective rates were half that due to exemptions, credits, etc.
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