January 6, 2013
NY Times: Tax Code May Be the Most Progressive Since 1979
New York Times: Tax Code May Be the Most Progressive Since 1979:
With 2013 bringing tax increases on the incomes of a small sliver of the richest Americans, the country’s top earners now face a heavier tax burden than at any time since Jimmy Carter was president.
The last-minute deal struck by the departing 112th Congress raised taxes on a handful of the highest-earning Americans, with about 99.3% of households experiencing no change in their income taxes. But the Tax Policy Center estimates that the average family in the top 1% will pay a federal tax rate of more than 36% this year, up from 28% in 2008. That is the highest rate since 1979, at least.
(Hat Tip: Mike Talbert.)
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Tax rates the most "progressive," and economic growth the stagnant, since Jimmy Carter? This is no coincidence.
Posted by: Jake | Jan 6, 2013 8:54:32 PM