And this only covers reportable income. The cash economy was much more significant in the 1950s, so a lot of income could escape the gaze of the state.
>>the wealthy are paying for less of it then they did before the 70's.
No, the wealthy contribute a larger share of it than ever before.
Anyway, you're only focusing on tax rates on the top 1%, while ignoring every other factor, including major structural properties of an economy like what percentage of GDP is mandatorily redistributed by the state for social welfare programs, that would determine whether an economy is classified as economically liberal or social democratic.
* all brackets creeping down due to inflation
* all brackets creeping down as a share of average income through the average income increase without a proportional raising of the bracket thresholds
* the closing of tax loopholes.
The result is that the effective tax rate for the wealthiest has barely decreased from the 1950s: https://files.taxfoundation.org/20170804133536/Average-Effec...
And this only covers reportable income. The cash economy was much more significant in the 1950s, so a lot of income could escape the gaze of the state.
>>the wealthy are paying for less of it then they did before the 70's.
No, the wealthy contribute a larger share of it than ever before.
Anyway, you're only focusing on tax rates on the top 1%, while ignoring every other factor, including major structural properties of an economy like what percentage of GDP is mandatorily redistributed by the state for social welfare programs, that would determine whether an economy is classified as economically liberal or social democratic.