Monday, March 09, 2009
Bush-Obama Tax Rate of 39.6% = Socialism, Reagan Tax Rate of 50% = Economic Nirvana
Steve Benen and John Cole and Hilzoy have a handy graph of the top income tax rates from 1920 to the present. For 6 years Reagan kept a top tax rate of 50%.
All of the crazy complaints about Obama, who is just keeping the Bush plan to let the top tax rate reset to 39.6%, being a socialist is just because conservatives don't know real history, just talking points.