Economists Recommend a Tax Rate of 90% on 1 Percenters?

Some economists are recommending that the federal government raise marginal tax rates to 90% on 1 percenters, the 1% of Americans who make hugely “unequal” sums of money a year. Marginal tax rates are taxes on amounts above a certain amount. So a 90% tax rate wouldn’t liquidate 1 percenters entirely. It would just mean they paid a 90% tax on any amount over $406,750. So 1 percenters would pay a “normal” tax rate on any income they made under a certain amount. For instance, if someone Read more […]