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this post was submitted on 27 Mar 2025
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Don't forget it took a democratic US president getting elected four times in a row to set up that tax rate. This tax status took about 30 years to fully reverse.
And once we did in 1983 the US government took in more not less tax revenue. Your top marginal tax rate can be too high and 91% was too high
The US government took in less total tax revenue in 1983 compared to 1982. Do you have a source?
They infact did not have a source