A Little Data to Clarify a Point about Taxes

The following data is from Barry Ritholtz's website. It is useful because it puts a little historical perspective on the Right's perennial complaint about "high taxes".


The present tax rates are less than one-third of what they were half a century ago. And I'm old enough to remember that the US economy grew very strongly through the 40s, 50s, and 60s. But the Right won the shouting war, gutted the economy, and chopped taxes. So the American people can now huddle jobless in their rapidly shrinking home equity, jobless, but secure in the knowledge that the Right has won for them "low taxes". The problem is that you can't eat low taxes. You need jobs. You need a sound economy. Not the flim-flam of unregulated laissez-faire.