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To: vbmoneyspender
I don't know how anyone can write this when the top rate in 1985 was 25%. Care to explain to me how an increase from 25% to 28% is a cut? I don't know where they get the 44%. That was the rate prior to the 1982 Economic Recovery Act, but NOT prior to 1986.

Also, the more you keep posting on this, the more I keep recalling the other "hikes" involved. Note the end of the investment tax credits, which DRAMATICALLY increased the real tax in investments.

90 posted on 03/29/2002 4:36:38 PM PST by LS
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To: LS
Didn't the 1986 Tax Reform Act reduce the number of marginal rates from 5 to 2, with those two being the 15% rate and the 28% rate?

As far as that 44% figure is concerned, that is the percentage reduction you get when you reduce the top marginal rate from 50% down to 28%. That works out to a 44% reduction. If the rate had been reduced from 50% down to 25%, then it would have been a 50% reduction.

101 posted on 03/29/2002 4:44:00 PM PST by vbmoneyspender
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To: LS
Here is a site that lists the top marginal tax rates from 1913 through the present.
116 posted on 03/29/2002 4:51:10 PM PST by vbmoneyspender
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