Let’s Make the Super-rich Pay Their Fair Share

Let’s Make the Super-rich Pay Their Fair Share

Last week I proposed a 75% tax on income over $2.9 million. This sounds radical to some, but we’ve been there before. When Ronald Reagan took office in 1980 the tax rate was 70% on income over $880,000 in today’s dollars. From 1954 to 1963 it was 91% on income over $4 million in today’s dollars. More on this next week