Top Tax Rate

When the top tax rate was 95%, America built the most powerful industrial nation the world has ever known and there were lots of really really rich people.

This tax rate was necessary due to rampant poverty in the US.  The really really rich people were the only ones with income worth taxing.  As the middle class grew the top tax rate of 95% was no longer needed as more people could contribute.

Let us not return to the necessity of a 95% tax rate.

Categories: Economics | Tags: , | Leave a comment

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