Top Marginal Rates (taxes for couples filing jointly) discuss

[nadinbrzezinski]

http://www.truthandpolitics.org/top-rates.php

[dmallind]

1. We did fine and the economy grew very quickly

including small businesses, when the rate was 39.6. That's when we had the first government surplus in decades and the lowest unemplyemnt in decades.

So I can't imagine a single argument that is rational against going at least back to that immediately.

[nadinbrzezinski]

2. Exactly, I am more a fan of 60% top rate

but that is me... Hell in the midst of the emergency I can see even higher

Yes Sarah PAYING taxes is patriotic

[dmallind]

3. Well there is a ceiling

Looking at your own chart when we had 60s and 70s athe inflation adjusted level at which that top marginal rate kicked in was way higher than today. Big difference between slapping Paris Hilton with a 60% tax over $10MM a year and slapping Dr. and Prof. Smith with 60% over $330K. Sure you can live on that pretty darn well, but the incentive to earn more real income is not just a fiction of eveil bloated corporate bigwigs, and we must be careful not to disincentivize success too much.

Again looking at your chart you see for most of its run the top rate was on VERY VERY rich people - not a professional, successful middle class working couple. I personally would like to see more marginal steps added, say 40% from $300K to $1MM, 50% from $1MM to $10MM and then sure why not your 60% above that.

[nadinbrzezinski]

4. Top marginal rate is the top 5%

that is over 5 million a year

I am not a fan of flat taxes, but Progressive taxes