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Archive for August, 2011

links for 2011-08-25

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  • Our graph shows a series of tax regimes. Overall, taxes stayed low until 1940, spiked during World War II, remained high through the Korean conflict, and eased slightly in the mid ’60s. From there, they held steady, until President Carter emancipated poverty-level wagemakers with his tax-free under-$8000 bracket, creating the blue wedge in our graph. Three years later, Reagan entered office and began turning the tables, finishing in 1988 with his retrograde 28% upper rate. The rich were now on tax vacation, at the expense of the poor and middle class.

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links for 2011-08-14

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