April 15, 2010

Interesting Forbes blog on changes in tax rates

Tycoon Tax Bite Down By Two-Thirds Since 1955 - Forbes.com:
"In 1776 the United States became perhaps the only country ever to be founded after a revolution based largely on the explicit issue of tax rates. More than two centuries later the issue still resonates loudly, and not just among right-wing Tea Party activists.

Wealth for the Common Good, a group of left-wing trust fund babies and other wealthy individuals pushing for higher taxes on the rich, released a report Tuesday saying that from 1955 to 2007, the tax rate paid by the 400 highest-income earners fell by two-thirds. Meanwhile the tax burden on the middle class, WCG said, rose by about 1%."


steves said...

From what I have seen, I think the tax rate on the top wage earners is at a reasonable level. What is unreasonable is the loopholes and rules that allow many of them to pay around 15% on most of what they earn.

Streak said...

I don't disagree that the loopholes are a good place to start, but I would also raise the upper marginal rate. Hell, I would raise my own taxes as well, while pushing to reduce some of the regressive taxes around me.

Ed said...


Did you know that you can give the government money whenever you want? They will accept it. Why don't you do that instead of demanding that those who you think can "afford it" pay more?

Streak said...

Dear Ed,

Your comment was neither sincere, nor helpful. Please go away unless you intend to actually contribute to a rational discussion.