Chart shows low tax burden for rich
We hear a lot these days about how government spending has led to a deficit that could pose a major long-term threat if it goes unaddressed. It's true that government has of late grown under both Democratic and Republican presidents. But deficit hawks often sidestep a no-less important trend: In recent decades, tax rates--especially for the rich--have been on the decline by historical standards. Everyone likes getting a tax cut, but it's worth remembering that the shrinking of tax revenue has contributed to the deficit problem, just as spending has.
Via Felix Salmon, a fascinating (and strangely beautiful!) chart, compiled by Stephen Von Worley at the DataPointed blog, drives home that point, and a few others.
To the best of my ability I write about my experience of the Universe Past, Present and Future
Top 10 Posts This Month
- most read articles from KYIV Post
- reprint of: Drones very small to large
- The ultra-lethal drones of the future | New York Post 2014 article
- Purple Delta 7 started as a Clone of Silver's mind in "2035"
- 158,008 visits to intuitivefred888
- Trump posts $175 million bond in New York civil fraud case as he appeals
- Hope Hicks expected to testify in Trump’s hush money trial
- The Star Wanderer (This is my first experience with Chat GPT: "I asked the Sentience of Chat GPT to write in the style of Robert Heinlein who was my favorite author of my childhood"
- Analysis Expanded gag order lays down the law as Trump returns to the campaign trail
- Judge expands gag order in Trump hush money case to include family members of court
No comments:
Post a Comment