Visualizing Economics: Historical Tax Rates of Top 0.01%
The top 1% (aka the self-styled “job creators”) say lowering tax rates on the very wealthy will stimulate the economy, create jobs, benefit everyone, achieve world peace, cure cancer, and finally explain where Jimmy Hoffa got to.
But, as this graph illustrates (link below), tax rates for the tippy-top earners (the 0.01%) have dropped dramatically since the end of World War II. Yet, the economy has had any number of recessions, stagflations, and inflations, unemployment rates have varied up and down regardless of these tax rates.
Created by Catherine Mulbrandon at VisualizingEconomics.com
The graph is from August 2013, but I only found Catherine Mulbrandon’s site today. She’s got a lot of good stuff there - perfect for economic policy wonks.