In that 1960s, the top tax bracket was something like 65%

@sunsporter1649 Actually, that's only part of the story, sunstroke. Those LEGAL undocumented immigrants - who are awaiting asylum decisions - also paid $96 billion in taxes in 2022. But wait, there's more! They also purchased about $260 billion in food, housing, and other goods and services that year. And those purchased generated income and profits to the sellers, who paid more in taxes. Let's assume a 25% tax rate on the sellers, and there's another $65 billion in taxes generated by the purchases made by those LEGAL asylum waiting undocumented immigrants. And it doesn't stop there! Due to an Econ 101 effect called the 'velocity of money,' the recipients of that $260 billion go out and spend more, generating further economic activity and further taxes.

Just to make my position clear, I'm waiting for a full cost-benefit analysis of economic activity of these LEGAL asylum waiting undocumented immigrants. Without that info it's silly to make a decision about what to do with them. Perhaps those geniuses in the Dept of Efficiency and provide us with this key info.


!! UPDATE !!
Oh, look! In response to economic facts, sunstroke has a CARTOON!!!

@ElwoodBlues

@NatureGuy77 Trickle down economics. What precipitated America's slide into massive deficits, the dismantling of the middle class.

The actual booming of the American economy did not happen during the Reagan days, although some of the wealthy corporations and individuals got richer and fatter.

The actual second post WWII boom started during the Clinton days and had zero to do with trickle down economics. This was fueled by the Silicon Valley.

@Northwest Federal tax revenue did not fall gross or as a percent of GDP after marginal tax rates were lowered. The Laffer Curve was proven accurate. I might add Clinton governed to the center after the ‘94 mid terms flip Congress to Republicans for 3/4ths if his Presidency

@NatureGuy77
Not true.


The Latter curve cannot be taken as an island. What's the context?


Only as far as social/unemployment programs were concerned. The Silicon Valley driven economic boom has nothing to do with Gingrich's Congress.

@trollslayer Let's see what he comes up with. I look forward to ending the wars in Europe and Middle East. To bringing manufacturing back to the USA. To the expansion of the Middle class as the largest segment of US demographics.

@Northwest The post WWII era was dominated not due to US tax rates but because European economies were in shambles due to their manufacturing base was destroyed by the war in Europe. US was able to fill that void until Europe recovered their economy and manufacturing capabilities

@NatureGuy77
Huh? As if anyone suggested this is the case, or this assertion is anyhow shape or form somewhat connect to the topic at hand.


No shit 🤣 but you think this is somehow germane to the discussion?

I know, you forget to throw Japan in the mix.

@Zonuss economically yes. NAFTA accelerated the decline .