Tuesday, May 10, 2016

Inequality Chart of the Day

From one of my links this week:

Reagan tax cuts - 1982.  Bush tax cuts - 2001 and 2003.  Clinton tax increase on the wealthy - 1993. Extension of Bush tax cuts - 2012.  Capital gains taxes were decreased to 28% in 1978, went down to 20% in 1997, and down to 15% in 2003.  Dividend tax rates went from ordinary income rates (as high as 35-39.6%) to 15% in 2003.  A coincidence between these changes in the tax code and the chart above?  I think not.

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