Thomas E. Woods, Jr., is the New York Times bestselling author of 11 books, including The Politically Incorrect Guide to American History and Meltdown (on the financial crisis.) A senior fellow of the Ludwig von Mises Institute, Woods has appeared on MSNBC, CNBC, FOX News, FOX Business, C-SPAN, Bloomberg Television, and hundreds of radio programs... (Read More)
Not long ago I posted several links (two of them to articles I myself wrote) refuting the “91% tax rates made this country awesome” argument that is making the rounds among the expropriators these days. Bob Wenzel now supplies yet more evidence. It turns out that the effective tax rate of the top 1% during the heyday of the 91% top marginal income tax rate was just over 30%.