Eat the rich

Here's an 80's quiz:

In 1980, what was the tax rate on those earning more than $215,400 per year (all income, married, filing jointly, without deductions?

Pause.... think for a second.....

Hint: Right now, that number would be around 33%.

Give up...?

It was 70%.

Yeah.

For all the hand-wringing about rasing taxes on those making more than $250,000 per year it's illuminating to compare that upper rate with how that rate has been set over time. Sadly, No! has just such a graph (via TruthAndPolitics.com)

 

Now, you can debate as to whether or not lowering taxes for the upper income brackets makes things better for everyone, but this garbage about how a bump to the upper tax rate is somehow socialist is refuted within the last few decades.

I'd argue it's obliterated by the rates you see right around WWII, as well.