Author Topic: Another liberal lie about high taxes from Paul Krugman  (Read 212 times)

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Offline rangerrebew

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Another liberal lie about high taxes from Paul Krugman
« on: April 27, 2014, 10:18:16 AM »
"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness -- these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles."
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Offline andy58-in-nh

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Re: Another liberal lie about high taxes from Paul Krugman
« Reply #1 on: April 27, 2014, 10:41:19 AM »
When the marginal tax rate was 91%, almost nobody paid it.

Instead, high income earners were able to take advantage of a wide range of exemptions and deductions that no longer exist. Many also steered their income and investments into deferred compensation plans, municipal bonds, annuities, real estate investment trusts and other tax-deferred or tax-free investments.

In 1958, according to IRS records, about 10,000 of the nation's 45.6 million tax filers had income that was eligible to be taxed at 81% or higher. Yet, yesterday's "1-percenters" paid a far lower share of the nation's income taxes than they do today, at lower marginal rates. Conversely, low-income and middle-income Americans today pay a far lower share of such taxes than in the past.
Liberalism isn't really about making the world a better place. It's about reassuring the elites that they are good people for wanting to rule over it.


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