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The 91% tax rate was essentially a legal fiction that was paid by virtually no one paid. I'm not going to bother to repost the link from lib UC Berkeley econ profs, Saez and Piketty again, but you can find it via the search button.
Reagan talked about working in 1950's Hollywood when the 91% rate was in effect.
Quote:
Originally Posted by Age of Reagan
...highly paid actors frequently found that after making one or two movies they were in the 91 percent tax bracket. Why make another picture that year if you kept only 9 cents on the dollar? So, Reagan would say, they quit working every year by June and sat around the Brown Derby restaurant talking about oil deals
(The Age of Reagan by Steven Hayward, p. 67.)
Anyway the 91% rate was eliminated by JFK in the early 60's, on the grounds that it inhibited economic growth, which clearly it did. I suppose libs are going to say that was Reagan's fault, somehow.
I was hoping for intelligent responses and not generalizations.
Why not just say what you want to say instead of this game of "bait the CD poster?"
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