“During the 1980's, the top statutory marginal income tax rate in the United States fell from 70 percent to 28 percent.”

Source: Public Finance - International Edition - Sixth Edition, Chapter 16, Personal Taxation and Behavior, p. 373

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "During the 1980's, the top statutory marginal income tax rate in the United States fell from 70 percent to 28 percent." by Harvey S. Rosen?

Harvey S. Rosen21

American economist 1949

Related quotes

“No free country will ever again have anything like the 90 percent tax rates that we had in this country. Past a certain point, high marginal tax rates are, indeed, terribly destructive.”

Lawrence H. Summers (1954) Former US Secretary of the Treasury

David Wessel, The Wall Street Journal (April 5, 1998) "Rich now pay more in taxes", Mobile Register, p. F1.
1990s

“Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U. S. is now 45 percent socialist.”

Milton Friedman (1912–2006) American economist, statistician, and writer

Article "We Have Socialism, Q.E.D." http://www.sangam.org/taraki/articles/2006/11-25_Friedman_MGR.php?uid=2075 in The New York Times (31 December 1989)

“What is it—medieval serfs paid about twenty-five percent of their crops to the estate lord, to the manor lord, and Americans are paying fifty percent in taxes by the time you figure out income tax and then all the various state and local taxes, and, to think we're not, y'know, overtaxed is insane.”

Glenn Jacobs (1967) American professional wrestler and actor

18:57&#8211;19:19. <br class="br"> "WWE Wrestler Kane Talks Libertarianism, and His Heroes" http://www.youtube.com/watch?v=cpqUIwu8nuc (2013)

“Finns live in smaller homes than Americans and consume a lot less. They spend relatively little on national defense, though they still have universal male conscription, and it is popular. Their per capita national income is about 30 percent lower than ours. Private consumption of goods and services represents about 52 percent of Finland's economy, and 71 percent of the United States'. Finns pay considerably higher taxes — nearly half their income — while Americans pay about 30 percent on average to federal, state and local governments.”

Robert G. Kaiser (1943) American journalist

2000s, "Why can't we be more like Finland?" (2005)

“Gibson: And in each instance, when the [capital gains tax] rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down. So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected?
Obama: Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.”

Barack Obama (1961) 44th President of the United States of America

Interview on ABC News (16 April 2008) http://abcnews.go.com/Politics/DemocraticDebate/Story?id=4670271&page=3 <br class="br">2008

“Unreason is now ascendant in the United States—in our schools, in our courts, and in each branch of the federal government. Only 28 percent of Americans believe in evolution; 68 percent believe in Satan. Ignorance in this degree, concentrated in both the head and belly of a lumbering superpower, is now a problem for the entire world.”

Sam Harris (1967) American author, philosopher and neuroscientist

[Sam Harris, 2 August 2005, http://www.huffingtonpost.com/sam-harris/the-politics-of-ignorance_b_5053.html, "The Politics of Ignorance", The Huffington Post, 2006-10-16]
2000s

“During the 60's and early 70"s, the Philippines had one of the lowest electricity rates in Asia. Today, we have the highest.”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero
Variant: After the 2nd World War, the Philippines had the second highest per capita GDP in Asia. Today, we have one of the lowest.

“My dad sat me down, gave me my first paycheck and explained what would be taken out for taxes,” he said. “The top tax rate in Quebec was something like 51 percent and I remember thinking, ‘Oh no, that’s my money!’””

Steven Crowder (1987) American actor

“We should consider lowering our income tax rates to equal Hongkong or Vietnam or Thailand. One of the major reasons why many locators do not like the Philippines is because they would have to pay their executives more takeout to equalize take home pay. For example, Hongkong has a tax rate of 17% while our marginal income tax rate is 32%.”

Francis Escudero (1969) Filipino politician

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

“I can now present the first fundamental law of capitalism, which links the capital stock to the flow of income from capital. The capital/income ratio β is related in a simple way to the share of income from capital in national income, denoted α. The formula is
α = r × β
Where r is the rate of return on capital.
For example, if β=600% and r = 5%, then α = r × β = 30%.
In other words, if national wealth represents the equivalent of six years of national income, and the rate of return on capital is 5 percent per year, then capital’s share in national income is 30 percent.”

Thomas Piketty book Capital in the Twenty-First Century

Source: Capital in the Twenty-First Century (2013), p. 52.

“During the 1980's, the top statutory marginal income tax rate in the United States fell from 70 percent to 28 percent.”

Help us to complete the source, original and additional information

Harvey S. Rosen21

Related quotes

Related topics