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New Maybe.
Given the Tax Code at the time. My memory is that rate applied to personal incomes above $250,000/year after all deductions. In that socio-economic class, and with the Tax Laws as written at the time, it may have been fair.

Looking at the rate in isolation is a fool's errand. Remember that Ross Perot had to disclose his earnings and tax records when he ran for President. Those documents showed, that although his tax rate was 28%, he paid only 7% of his total income in taxes that year.

The wealthier you are, the more deductions you have and so your *actual* rate drops at a disproportionate rate.
New The real issue is...
...and the reason why Laffer works....

...is because people find more and more creative ways to shield income as the marginal rate gets higher.

Lower the marginal rate and you increase revenue by both increasing spendable income (more spending, more econ growth, larger tax base) and giving less incentive to sheltering wealth.

[link|http://www.ncpa.org/studies/s159/s159.html|Long explanation]

[link|http://www.ncpa.org/pi/taxes/pdtx63.html|Shorter example]

And in your thinking, do not forget FICA, Medicare, Unemployment, State and local taxes, including sales taxes...when figuring total tax burden on citizens.


You were born...and so you're free...so Happy Birthday! Laurie Anderson

[link|mailto:bepatient@aol.com|BePatient]
New Sorry.
Couldn't read one of the sites: I'm not allowed near the Heritage Foundation for security reasons ;-)

Those other taxes you mentioned, FICA, Medicare, etc. They have CAPS don't they? The wealthiest pay up to X and not more, right? How is that not regressive?
New Both on the same site...and its not Heritage.
You were born...and so you're free...so Happy Birthday! Laurie Anderson

[link|mailto:bepatient@aol.com|BePatient]
New Sorry Part II
I just read the title,

Tax Rates, Tax Revenues and Economic Growth
by

Gerald W. Scully
Senior Fellow
National Center for Policy Analysis
Bradley Fellow
Heritage Foundation

Didn't [need] to look any further ;-)
New You should have...
...cause all he did was explain that Laffer was right.
You were born...and so you're free...so Happy Birthday! Laurie Anderson

[link|mailto:bepatient@aol.com|BePatient]
New I like Laffer
His *Leisure Suit Larry* series was hilarious.

(I know, I know, just trying to lighten it up a little.) :-)
"When it crosses my mind to do something, I don't ask why, I ask why not. And usually there's no reason not to, so I just go ahead. It's given me the strangest collection of hats"
New That was a pretty good one ;)
You were born...and so you're free...so Happy Birthday! Laurie Anderson

[link|mailto:bepatient@aol.com|BePatient]
     "Deja Vu all over again" - (mmoffitt) - (52)
         Deja deja vu all all over again - (screamer) - (3)
             49,000,000 - (mmoffitt) - (2)
                 Slight correction - (screamer) - (1)
                     TRUE? Would that be the new name of MORAL? :-) -NT - (mmoffitt)
         so you thought all that money was in a vault - (boxley) - (1)
             I know the money wasn't (isn't) in a vault. - (mmoffitt)
         massive irritation - (wharris2) - (45)
             I hear this a lot. - (mmoffitt) - (44)
                 Check your stats... - (bepatient) - (7)
                     Revisionist History I am familiar with. - (mmoffitt) - (6)
                         Heh.. - (bepatient) - (5)
                             Minor Nit. - (mmoffitt) - (4)
                                 Not... - (bepatient) - (3)
                                     Sort of, but not Xactly. - (mmoffitt) - (2)
                                         But giving credit to that.. - (bepatient) - (1)
                                             Disagree. - (mmoffitt)
                 slight OT but you think 72% is fair? -NT - (boxley) - (35)
                     Hell...why not 90...they're rich...they can afford it -NT - (bepatient) - (26)
                         trouble is dems think Im rich - (boxley) - (25)
                             Heh heh - (bepatient) - (24)
                                 Careful there with who you blame for the Marriage Penalty. - (mmoffitt) - (7)
                                     Part of tax simplification... - (bepatient) - (6)
                                         Same tired refrain: Nothing is a Republican's fault. -NT - (mmoffitt) - (5)
                                             And yours is its all their fault... - (bepatient) - (4)
                                                 Nope. - (mmoffitt) - (3)
                                                     Now about Harry we can talk... - (bepatient) - (1)
                                                         I can die tomorrow. We have common ground. - (mmoffitt)
                                                     Nicely said! -NT - (jb4)
                                 Careful on that as well... - (Simon_Jester) - (15)
                                     Well you don't see them... - (bepatient) - (14)
                                         But they *are* different - (DonRichards)
                                         Like it or not, government plans cost money... - (Simon_Jester) - (2)
                                             Wow... - (bepatient) - (1)
                                                 Cough...fast and loose with the rules, eh? - (Simon_Jester)
                                         It's entirely 'reasonable' to despise those who manipulate - (Ashton) - (9)
                                             So you posit... - (bepatient) - (8)
                                                 'All' is a rather large percentage - (Ashton) - (7)
                                                     Recipes? - (DonRichards) - (6)
                                                         Secret ingredient - 'gaul of dog' - (Ashton) - (5)
                                                             Ah, yes. The Hannibal Lecter school of cuisine. - (DonRichards) - (4)
                                                                 Not at all: The Golden Rule. - (Ashton) - (3)
                                                                     This one thankfully accepts your criticism and correction - (DonRichards) - (1)
                                                                         That is Right-attitude, Grasshopper - go thou and prosper. - (Ashton)
                                                                     This one thankfully accepts your criticism and correction - (DonRichards)
                     Maybe. - (mmoffitt) - (7)
                         The real issue is... - (bepatient) - (6)
                             Sorry. - (mmoffitt) - (5)
                                 Both on the same site...and its not Heritage. -NT - (bepatient) - (4)
                                     Sorry Part II - (mmoffitt) - (3)
                                         You should have... - (bepatient) - (2)
                                             I like Laffer - (DonRichards) - (1)
                                                 That was a pretty good one ;) -NT - (bepatient)

Any more detail than what's there and you'd have to have the magic software they use in movies to pull a license plate out of five pixels.
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