Disgusted by the Republicans' adventures in culture war, the Democrats now propose to give us... class war. Hard to say which the historical precedents are worse for. The 20th century was basically a hard-fought tie in that respect.
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Replying to @paulg
Calling policy proposals “class war” isn’t a good look. What is your actual issue? That they’re proposing we go back to tax rates we had for most of the 20th century? An era of unprecedented growth....
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Replying to @Allen
Paul Graham Retweeted Paul Graham
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Replying to @paulg
That chart makes zero sense to your point....taxes comes from lots of sources. There are regressive and progressive taxes. The composition of taxes has changed. And again, it’s not class war, it’s a policy discussion.
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Replying to @paulg
Paul, you're a brilliant well-respected guy, the policy discussion these days is about **marginal** rates. Attached is the top marginal rates.....pic.twitter.com/a4NC3GNOxB
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Yes, I get that. And those high rates were accompanied by huge tax loopholes. Result: the actual amount of tax paid paid by the rich was lower than you'd expect, roughly the same as today. https://twitter.com/search?src=typd&q=%40paulg%20porous …
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Where is the evidence that the effective tax rate on the rich was actually lower back then despite higher top marginal rates? Flat tax rev/GDP over time is weak evidence b/c, as mentioned, the distribution of both income & tax burden can shift without a change in rev/gdp.
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