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Politics : A US National Health Care System?

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To: Lane3 who wrote (3905)	1/16/2008 4:29:14 PM
From: TimF	Read Replies (1) of 42652

When our tax rates where that high, they only kicked in for very few people. Also there where many deductions that kept the effective rate lower. The mean rate probably wasn't a lot higher than it is today. The marginal rate on each dollar, earned by very high income individuals, that didn't qualify for any special tax break was confiscatory, but people with that level of income learned ways to avoid taxes, so you had less confiscation than might have been thought from just looking at the rates, and more distortion and perverse incentives than the people setting the rates probably expected. I remember when rates where 70%, well I remember when they changed, I didn't know they where that high before the change (I first started paying any attention to politics around the time of Reagan's campaign). I've never paid anywhere close to that rate. I was a kid back when they where 70%, 12 or 13 at the end of that period. But I guess I look less to my past experience when thinking of what I consider reasonable. I don't consider 20 or 30 percent for federal taxes to be all that reasonable.

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