Comrade Sanders is a fan of 90% top marginal tax rates because he says economic growth was higher. Does Comrade Sanders want to bring back other conditions of the 1950's as compared to 2016? Unless Comrade Sanders thinks only federal marginal tax rates are the only variable that affects economic growth. There was no Department of Education (we hear from progressive how important education is). There was no Department of Energy. There was no EPA. FICA taxes were much lower. The minimum wage was much lower. There were many less regulations. State income taxes were lower. But, more importantly, few in the 1950's paid an effective marginal tax rate of 90%: there were many more write-offs. Nelson Bunker Hunt owned so many gas stations and pizza joints , he was able to write-off so much mortgage interest that he paid zero federal income taxes in 1976 when the top marginal tax rate was 70%. It appears Bernie wants high taxes and less write-offs than the 1950's to confiscate wealth.
