Genuine question: source for any of the rich having paid more in the 50s than they did in the 90s? My understanding is that while published rates were high, effective rates were roughly flat until the Bush and Trump tax cuts.
Genuine question: source for any of the rich having paid more in the 50s than they did in the 90s? My understanding is that while published rates were high, effective rates were roughly flat until the Bush and Trump tax cuts.
https://taxpolicycenter.org/taxvox/effective-income-tax-rate...
Now the 1% is paying more of the overall taxes, about 40%, but that number is also skewed (and can be misleading) by the absolute massive disparity between what the top and bottom make now. Plus of course reporting and tax compliance has changed a bit, plus a whole host of other confounding factors that this 40% statistic subsumes, but it's worth mentioning because it's always brought up in these discussions.
So the article has no source for the data? Only two years of data comes from the IRS, where does the rest come from? Why should we trust this?
To quote the article: "Debates over measuring effective tax rates have been lively because measuring taxes and incomes is complex and involves judgement calls (and the political stakes are high.) We applied a simple and replicable method to a single, publicly available source of data to estimate the effective tax rates of high-income taxpayers that avoids making assumptions about grey areas like unrealized capital gains and corporate tax burdens."