Sunday, January 5, 2014 12:46:46 PM
Smaggy, those are EFFECTIVE rates after deductions. Rich people arranged their affairs to minimize their tax liability. It should be noted that these arrangements were NEVER conducive to creating jobs or improving the GDP, which explains why unemployment was so high under Carter when the top marginal rate was 70% and why it dropped so much when Reagan reduced it to 28%.
The TOP MARGINAL RATES , i.e., the rate you pay on the last dollar earned, were always MUCH higher than the rates you posted, and THOSE are the rates that f*** up the economy and kill jobs.