Fediverse memes

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Probably not how it works (cdn.masto.host)

submitted 2 months ago by Blaze@piefed.zip to c/fedimemes@feddit.uk

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Source: https://oslo.town/@luftvaffel/115327708667457159

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[–] damnedfurry@lemmy.world 1 points 2 months ago (1 children)

Despite the headline tax rate being over 90% in the 1950s, the federal government collects about 3 times more real revenue per person today (with a top rate of 37%) than it did then.

The only reason it was ever that high is because the tax code at that time was so full of loopholes/deductions/etc. (that are closed today) that you could have that be the rate with practically no one actually paying it.

What I'm trying to say is, don't hold your breath for that to ever return in present day.

[–] a_non_monotonic_function@lemmy.world 1 points 2 months ago

That quote and image combo don't seem directly back up your justification.

And I'm not holding my breath. Our country is now run by those same rich people.