Anyone convinced that government has grown much larger should review this chart of government spending as % of GDPhttp://bit.ly/2lQcv3W
The really interesting thing that chart proves is that the high tax rates of mid-century are a myth.
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I.e. though rates were nominally high, people found ways of avoiding taxes over a certain (remarkably consistent) point.
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@paulg@timoreilly Tax avoidance has a fixed cost floor (tax accounting advice). If tax due >> cost of avoidance, it’ll all be avoided.
End of conversation
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WW2 distorts the graph too much. Looks like 15% up to a high of 25%, trending back to 15.
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Yes but inequality is incredibly high now
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