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[–] nicky_haflinger 2 points 3 points 5 points (+5|-2) ago
We have been at that level before. Exceptionally high marginal rates come with exceptionally many exemptions and loopholes. Likewise as you note it is an income tax. The sudden relative jump in CEO pay for example didn't come with a sudden relative jump in CEO lifestyle, it was rather a symptom of lowering marginal rates leading to moving from 'in kind' compensation where the corporate jet is effectively private property to the corporation selling the jet to the CEO that now makes ten times as much money. At best this claim by Bernie is red meat for a base that is historically and economically ignorant. At worst Bernie is historically and economically ignorant. We will have a while to find the truth.