Wednesday, March 27, 2013

Top Tax Rates vs Economic Growth in US

Average yearly, top-end tax rates in America, by decade:

1950s: 90.54%
1960s: 80.33%
1970s: 70.18%
1980s: 48.45%
1990s: 36.72%
2000s: 36.23%
2010s: 35.00%

Annualized, real, per-capita GDP growth in America, by decade:

1950s: 2.76%
1960s: 3.01%
1970s: 1.68%
1980s: 1.56%
1990s: 1.57%
2000s: 0.35%
2010s: 0.60%

Source: IRS, Bureau of Economic Analysis (www.bea.go­v)
*While one can't make the affirmation that higher tax rates on the wealthy would help the economy, you can certainly make the claim they didn't hurt it as regressives typically claim

No comments:

Post a Comment

Thank you for your comment. Any comments with links in them will be deleted.

Search Democratic Progress

Announcement

DemocracticProgress readers get 1 Month Free of Amazon Prime Video Streaming... Click Here