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Opinion from a Libertarian ViewPoint

Posts Tagged ‘70% top marginal tax rate’

The 75 IQ Version of American History – LewRockwell

Posted by M. C. on January 12, 2019

https://www.lewrockwell.com/2019/01/thomas-woods/the-75-iq-version-of-american-history-strikes-again/

By 

Tom Woods Show

From The Tom Woods Letter:

There’s still lots of talk about that 70% top marginal tax rate, and why it’s supposed to be a great idea.

Heck, they say, we had rates even higher before, and everything was fine!

Ahem.

I emailed you last week about that, and then I devoted episode #1314 of the Tom Woods Show — subscribe for free at TomWoods.com/iTunes — to further detail on the subject.

The (very quick) answer is that thanks to deductions and outright evasion, those high rates were essentially not paid.

Here’s how someone in my private group described the simpleton manner in which the topic is being discussed: Read the rest of this entry »

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