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Response to wtmusic (Original post)

Tue Oct 9, 2012, 12:37 PM

4. As a complement to that, a look at where those burdens lay:

Below is a chart I made showing CPI inflation-adjusted tax bracket thresholds based on numbers from the Federal Individual Income Tax Rates History of The Tax Foundation (http://www.taxfoundation.org/taxdata/show/151.html).

This chart just shows the taxable-income levels where one rate changed to the next. (Perhaps someone with better graphic presentation skills can get a better version). It doesn't show the rates themselves (go to the link above for the charts).

What I mainly wanted to show when I made this is how we treated income levels in the tax system in the past, which is a separate issue from what the rates actually were. For instance, during Obama's presidency there have been lots of arguments about raising taxes on income over $250,000 (often framed as "is $250 thousand/year 'rich'?". In comparison, in 1955 there were 24 tax brackets (4 times as many as now). 16 of them, two-thirds of that number, affected taxable incomes over the equivalent of $250K. The highest bracket (the 91% one) affected income over ~$1.6million. OMG, Class Warfare! Socialism! Marxism!

And we know what sort of people were calling the president 'communist' back then. Birchers and other ranting cranks.

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Replies to this discussion thread
Arrow 11 replies Author Time Post
wtmusic Oct 2012 OP
HopeHoops Oct 2012 #1
Wednesdays Oct 2012 #2
Tennessee Gal Oct 2012 #3
LineNew Reply As a complement to that, a look at where those burdens lay:
JHB Oct 2012 #4
wtmusic Oct 2012 #6
A HERETIC I AM Oct 2012 #10
JHB Oct 2012 #11
porphyrian Oct 2012 #5
JHB Oct 2012 #7
taught_me_patience Oct 2012 #8
wtmusic Oct 2012 #9
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