Is It Time To Consider Raising Top Marginal Tax Rates?...
by: Les Carpenter Rational Nation U S A Lib e rty -vs- Tyr a nny There is most definitely a huge gap between what proponents of low marginal tax rates argue and what the actual results of lowering said rates over the past 30 to 40 years has been. While reading the following article from The Guardian think long term effect. Many are arguing the policies of lower taxes and increased spending (much on defense and the MIC) during this time period is largely responsible for our present sorry fiscal state state of affairs. They may have a point and it is most certainly worth considering as we look to 2014 and 2016. At the very least the party of lower and lower taxes and increased spending, and we all know who that is, should rethink it's strategy for success. In the United States, the share of total pre-tax income accruing to the top 1% has more than doubled, from less than 10% in the 1970s to over 20% today (pdf) . A similar pattern is true of other English-speaking countries.