Under the Reagan administration, there was a theory that cutting tax rates for the super-rich would stimulate investment and economic growth. Judge for yourself whether this worked.
The Biden Administration proposes raising the highest bracket tax rate from 37 percent back to 39.6 percent and also closing some tax loopholes. If if his bill passes, which is doubtful, it will change little.
LINKS
At What Point Does a Billionaire’s Greed Hurt the Rest of Us? by Drummond Pike for the Institute for New Economic Thinking. Source of the chart.
Biden proposes higher corporation tax rate, 20 percent billionaire minimum tax by Paul Bonner for the Journal of Accountancy.
Tags: Marginal tax rates
Phil Ebersole's Blog 
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