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  • trailerparksharpie trailerparksharpie Nov 19, 2012 3:59 PM Flag

    Why those taxed to dirth job creators created so many jobs then

    If that were true, you wouldn't need the government to take any money from you - do you pay extra on your taxes yet? It's always been an option.

    Still won't explain why taxes on 300,000 at 91% doesnt come out to be 273,000? Simple stuff for a smart guy like you / Krugman.

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    • trailer,

      We are talking about marginal rates AND adjusted gross income. Also, $300K in the 50's is worth a lot more than today. A $30K house in Palo Alto in the 50's is likely worth more than $3mil today.

      • 1 Reply to unclefulbert
      • You are just dull. The top rate applied only to the money that fell over the previous bracket, so 91% was only on that last chunk of money... You are talking out both sides of your mouth trying to ignore that Krugman either doesn't understand the difference or hopes saps that still read him don't get catch it. "Gee, people used to pay 91% of their earnings to the government, derrrr...".

        Also, Krugman completely glosses over the fact that there were 3 recessions in this great period he describes, thanks Kudlow for pointing that out. Economy picked up under Kennedy, who cut taxes. The substantial recessions. Most people think fondly of the 50s for the family values; Krugman must just like financial downturns. He will be very happy for a while.

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