{"id":25133,"date":"2019-01-18T18:52:16","date_gmt":"2019-01-18T23:52:16","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=25133"},"modified":"2019-01-18T18:52:16","modified_gmt":"2019-01-18T23:52:16","slug":"image-of-the-day-higher-top-income-tax-rates-dont-mean-increased-revenues","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/25133\/image-of-the-day-higher-top-income-tax-rates-dont-mean-increased-revenues\/","title":{"rendered":"Image of the Day:  Higher Top Income Tax Rates Don&#8217;t Mean Increased Revenues"},"content":{"rendered":"<p>In our Liberty Update this week, <a href=\"http:\/\/cfif.org\/v\/index.php\/commentary\/43-taxes-and-economy\/4365-lessons-from-history-lower-tax-rates-boosted-revenues-and-increased-share-paid-by-wealthier-americans\">we highlight<\/a> how history refutes the idea that returning to top income tax rates of 70% or higher, offered by new faces on the political left like Alexandria Ocasio-Cortez, will somehow pay for all of the new entitlement spending they advocate.\u00a0 Wealthier taxpayers actually carried a <em>smaller<\/em> share of the nation&#8217;s income tax payments before the top marginal rate was cut.\u00a0 And, as <a href=\"https:\/\/www.mercatus.org\/publication\/despite-dramatic-fluctuations-top-marginal-rate-federal-revenue-remains-flat\">illustrated nicely<\/a> by Veronique de Rugy and the great folks at the Mercatus Center, it won&#8217;t unleash some wellspring of new tax revenues that leftists might hope in any event:<\/p>\n<p>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.mercatus.org\/sites\/default\/files\/tax-revenue-path-plus-top-marginal-rates-chart-580_0.jpg\" width=\"580\" height=\"402\" \/> Sorry, Leftists<\/p>\n<p>&nbsp;<\/p>\n<p>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In our Liberty Update this week, we highlight how history refutes the idea that returning to top income tax rates of 70% or higher, offered by new faces on the political left like Alexandria Ocasio-Cortez, will somehow pay for all of the new entitlement spending they advocate.\u00a0 Wealthier taxpayers actually carried a smaller share of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5051,5049,105,5052,71,5050],"class_list":["post-25133","post","type-post","status-publish","format-standard","hentry","category-posts","tag-federal-revenues","tag-revenues","tag-tax","tag-tax-rates","tag-taxes","tag-top-marginal-rate"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/25133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=25133"}],"version-history":[{"count":1,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/25133\/revisions"}],"predecessor-version":[{"id":25134,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/25133\/revisions\/25134"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=25133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=25133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=25133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}