"Yet in the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent, while taxes on corporate profits were twice as large, relative to national income, as in recent years. The best estimates suggest that circa 1960 the top 0.01 percent of Americans paid an effective federal tax rate of more than 70 percent, twice what they pay today."
Psst... somebody should tell the economic reactionary, Mr. Krugman, that it's not 1950 anymore, and we kinda, sorta have immense competition from countries like China and India that we didn't have before...
dont forget western europe and Japan were still devastated by war
Krugman is a GENIUS!
If Obama had doubled the U.S. corporate tax rate, then Hostess would never have had to go bankrupt!
And tripling the corporate taxes on Hostess, etc would have increased Hostess profits tremendously!
Genius, sheer genius!
And in the same logic, raise income taxes on the poor from the current nothing to 90 percent and they will all be rich!
Wow! Brilliant thinking (for the incurably insane).