Skip to main content

But the Tax Policy Center estimates that the average family in the top 1 percent will pay a federal tax rate of more than 36 percent this year, up from 28 percent in 2008. That is the highest rate since 1979, at least.
Reality: The top tax rate up until 1986 was 50%  on couples making $386K/yr [adj for inflation in constant dollars] and there were 17 tax tiers. That was under Ronald Reagan.

Source: >

So what we have is AEI propaganda presented as a 'news article', in the New York Times.

You don't have to be a political rocket scientist to figure out that the title and lede paragraphs set the tone, creating 'talking points' to inoculate the political environment from any possible further discussion of raising taxes.

By trying to associate Carter with the 'most progressive label', it helps feed the RW Wurlitzer to smear 'the left' - in reality Carter made very slight changes to what was already in place from Nixon and Ford. When Nixon left office, the top rate was 70% on couples making $200K, about $900K in inflation adjusted dollars.

it was Eisenhower and JFK who held 24 tax tiers in place for a full decade, with a top rate of +90% on couples making $400K {about $3M in constant dollars}. The Fed tax rate for couples making the equivalent of $235K back in 1963? it was 50%, that's 10% more than billionaires [don't] pay today.

Remember, most of the money made by the wealthy is not from what's reported on W2s.
Ask Mitt Romney [or Warren Buffet for that matter] what their effective tax rates are.


Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site