Nearly 60% of Americans support increasing top marginal tax rate to 70% for incomes over $10M
- Thread starter FAH1223
- Start date
-
- Tags
- aoc tax policy tax rates
so this MIT professor and the host believes people were paying those rates... In those days, you could deduct business meals, all business travel, all forms of interest payments, damn there everything...
You could even deduct spousal travel expenses on a business trip! (Why travel alone?) Companies could also "loan" or "provide" almost anything to an employee, from an apartment to standard benefits. It was possible to shelter tens of thousands of dollars from taxable income. Three-martini lunches and expense accounts were real shyt...
We simply didn't count much compensation as taxable income.
Allow me to introduce you to Hauser's Law.
Published in 1993 by William Kurt Hauser, a San Francisco investment economist, Hauser's Law suggests, "No matter what the tax rates have been, in postwar America tax revenues have remained at about 19.5% of GDP." This theory was published in The Wall Street Journal, March 25, 1993.
Attempt to school billionaires and fail professor brehs