https://x.com/mcsquared34/status/1896369014575697938
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capitalist xisters help is this true
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Yeah but also not really, no.
According to Emmanuel "Big Peepee" Saez, the top income tax rate in the 60s wasn't actually much higher than it is today because of lower tax on capital gains and big deductibles.
The tax code was more progressive in the 60s but that comes from estate and corporate taxes.
!neolibs !commies !picklerick
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Saez is a cuck, he likes Pikettys commie frog peepee too much.
Rates have become more progressive over time not less, there was a massive increase in progressiveness in the 80's as Regan extended EITC, and increasingly refundable tax credits were used too create negative effective rates below the median. US income tax is one of the most progressive national income tax systems in the world, way more progressive than Europe.
This is a bad thing because it makes it difficult too collect revenue, either that gets fixed in the next decade or the US is fricked.
If Trump wasn't a giant cuck r-slur on economics he would replace corporate and personal income taxes with a progressive VAT, that would save about $400b a year in compliance costs and at least $800b a year in distortionary costs.
Replace CG taxes with estate taxes. Even commie cuck Pikkety found optimal CG rate too be 8% (vs zero for nearly every other estimate) but optimal rate for estate is between 60% and 80% over $100k.
@fedposter wouldn't care as much about daddies ethnic cleansing if he was actually going too fix something important or usher in a golden age. He isn't though, because he is economically r-slurred and the GOP have decided they preferred economics in C19.
@fedposter suck Jewish peepee.
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Good point, I'll take it under advisement.
Edit: I was being dismissive but I went back and read fedposters comment and it's actually keyed and !neolibs pilled
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Friedman and Autor are @fedposter's BIPOCs.
@fedposter will never not stop asking why leftists hate the global poor and why chuds don't want too be rich.
Buttigieg/Wang 2028. Let's bussy blast pretend lines on the map.
@fedposter suck Jewish peepee.
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Seek help.
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A clown is @fedposter's friend. A clown won't bite @fedposter and throw @fedposter in the basement.
@fedposter suck Jewish peepee.
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so according to that graph it was more like 70-80% instead of 90% but pretty much the same idea?
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Not quite, here's a comment that explains the graph.
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