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The percentage of gross receipts demonstrates that
Posted on: January 26, 2019 at 10:23:36 CT
ummmm MU
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there was not a time where significantly more money was taken in by the federal govt.
Since the 1940's, the federal govt has taken in roughly 20% of GDP. It was not significantly higher in the 1950s (when the alleged 91% tax bracket existed), and that's because tax avoidance strategies led to people not paying anything remotely near that with their effective rate.
"And a tax on WEALTH is not a tax on income but on assets."
Yes, but a tax on income is a tax on wealth. Income is a component of wealth. There's no important difference between stealing what someone has made this year versus stealing what they made/purchased years before. Both include taking someone else's wealth.
Since the 1940's, the federal govt has taken in roughly 20% of GDP. It was not significantly higher in the 1950s (when the alleged 91% tax bracket existed), and that's because tax avoidance strategies led to people not paying anything remotely near that with their effective rate.
"And a tax on WEALTH is not a tax on income but on assets."
Yes, but a tax on income is a tax on wealth. Income is a component of wealth. There's no important difference between stealing what someone has made this year versus stealing what they made/purchased years before. Both include taking someone else's wealth.
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The percentage of gross receipts demonstrates that - ummmm MU - 1/26 10:23:36