Rising pre-tax incomes and falling marginal tax rates for highest earners.

It is true that the wealthy pay a higher overall tax rate than any other group. That is an American tradition. But there is also no question that their tax rates have fallen more than any other group’s over the last three decades. The only reason they are paying more taxes than in the past is that their pretax incomes have risen so rapidly — which is hardly a great rationale for a further tax cut. We...

CBO publishes data: Bush tax cuts haven’t increased economic productivity, but contributed significantly to national debt.

It might have made practical as well as moral sense to argue that tax rates on upper incomes were too high when marginal rates were 70%, or in the 1980 to argue that lowering tax rates might stimulate economic activity. It makes no sense, practically or morally, to make the same argument today, after tax rates on upper incomes, estates, and capital gains have fallen significantly since 1980. The highest...

Tax chart illustrating fall in upper income tax brackets since 1975.

The individual income tax code has flattened out considerably in the last few decades, resulting in dramatic declines in taxes on upper incomes. After the Reagan tax reforms ended in the late 1980s, President George H. W. Bush and President Clinton raised taxes in the Omnibus bills of 1991 and 1993 to fight back a possible deficit crisis. Twenty years later, we still have the lowest tax rates in modern...

Republican intransigence on raising the debt ceiling unjust.

An attitude of moral righteousness has no place when enacting taxing and spending policy. Those in Congress who are making raising the debt limit dependent on wholly unrealistic conditions (e.g. not raising taxes on upper income levels), may be in for a rude awakening if they do not change their stance. They may well learn that one of the most important factors making the United States economically...

The Judgement is In: Tax Rates on Highest Income and Estate Brackets Have Dramatically Fallen

Click here for my Powerpoint Presentation giving a brief overview of the philosophy motivating the anti-tax rhetoric, followed by graphs and charts revealing how much taxes have declined on the highest wealth levels. What we observe is the wealth levels of a few increasing all while the public debt is rising and the nation is subjected to speeches telling them that taxes are too high. There is no public...

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