jmfcst's 9% flat or the 1960 tax code?

[opebo]

1960    
Taxable income   Tax Rate
10,000 -                 26%    
20,001 -                 38%    
60,001 -              62%    
$100,001  -             75%    
$250,001  -             89%    
$500,001 -               91%    
$1,000,000 -            91%

[opebo]

Option 1.  You need to adjust for inflation opebo to even get in the game.

I had a confidence in my readers, Torie - that they would do this themselves. But lets see this thing I found on line said it is $7.46 of 2011 dollars for one 1960 dollar, so:
   
Taxable income   Tax Rate
$74,600 -                 26%    
$149,200 -                 38%    
$447,600 -              62%    
$746,000  -             75%    
$1,865,00  -             89%    
$3,730,00 -               91%    
$7,460,000 -            91%

Sounds even better eh?

But I think taking more than 60% of anyone's income at the margin (and that includes all taxes), is a profound mistake. Beyond the inequity of it all (yes, I know, you think it personifies equity but whatever) it hurts growth ... and now more than ever since money and people can so easily vote with their feet these days.

Actually it doesn't effect growth, which is demand-led and State-modulated, Torie, but as for the 'voting-with-the-feet', I think they could do it then too (after all the Riveria and such places were very nice then just as now), but I'm sure we could devise ways to deal with such traitors and thieves.

[opebo]

Taxable income   Tax Rate
$74,600 -                 26%    
$149,200 -                 38%    
$447,600 -              62%    
$746,000  -             75%    
$1,865,00  -             89%    
$3,730,00 -               91%    
$7,460,000 -            91%

I wish someone would run the numbers and see what kind of revenue this generates

Yes!  How could that be done?

[opebo]

look up what % of the federal tax burden the top 1,5,15,50 percent paid in 1960, 1970, 1980, 1990, 2000, 2010....you'll find that the tax base has shrunk and the tax burden has steadily shifted up the income ladder.

No that's because the rich get a much bigger share of income, jmfcst.