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View Diary: Democrats happier than Republicans with fiscal cliff deal (190 comments)

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  •  Chait: (1+ / 0-)
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    quill
    Unless I'm mistaken, I think people are misinterpreting @AnnieLowrey today. Tax code most progressive since 1979 means the ratio of tax rates on the rich vs. non-rich is higher. Doesn't mean tax rate on the rich is higher. It's lower. Income tax rates same as under Clinton, and taxes on capital gains and dividends were higher before 1997. Estate tax also lower now. Basically, since 1997, the rich have gotten a tax cut, but the nonrich have gotten a bigger tax cut (as a share of their income.)
    http://ronbeas2.blogspot.com.au/...

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