Quote:
Originally Posted by UnderseaLcpl
Apparently the correlation between top income tax rate and GDP growth isn't there, but that's not what I was arguing for and anything beyond a very vague correlation wouldn't make much sense, anyway.
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It's meant more of a refutation of the trickle down, supply side, Reaganomics nonsense. But the idea still stands when you consider average taxes across all brackets as we can see from the chart below. Sure, it's only through 2004 but it's close enough for casual discussion.
Looking at that chart, I'll bet there's an interesting correlation between size of the federal deficit and tax rate for the top earning 0.01% of taxpayers. There's other factors at work there, so it's not as simplistic as that comparison would imply, but I bet there's something to it.