Wow, that 70% effective top income tax rate during the 1950s must have killed the economy back then.
” Wow, that 70% effective top income tax rate during the 1950s must have killed the economy back then.”
Back then, you could deduct almost everything down to the suit on your back(uniform expense)
It amazes me that people are so stupid. Who do they think passed the tax code in the first place? Congress created the code that is so complex, I doubt anyone full understands it. How about everyone pays 17% (Friedman's number)...no exemptions, no minimum income exclusions. That way, everyone has something in the game. As it is now, 51% have a say in Federal elections even though they don't pay for it. To me, they shouldn't get to vote.