, 3 tweets, 2 min read Read on Twitter
For the last time, a 70% top marginal tax rate is not a "far-left idea." It was the longstanding American tradition until Reagan.

The top marginal tax rate:

1945: 94% (Roosevelt)
1957: 91% (Eisenhower)
1964: 77% (Johnson)
1973: 70% (Nixon)
1986: 50% (Reagan)
2018: 37% (Trump)
From 1919-2019, the only two periods when the top marginal tax rate (paid by the wealthiest Americans on only the top part of their income) dropped below 50% was in the 1920s before the Great Depression and in the late-to-post-Reagan era from 1986-present. fred.stlouisfed.org/series/IITTRHB
In recent decades, the share of federal revenue coming from payroll taxes has grown while the share coming from corporate taxes has dropped. - Center on Budget and Policy Priorities cbpp.org/research/feder…
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