What’s Wrong with the American Tax System


The majority of the American population are taxed at high levels, yet the country continues to run a deficit . We will look at the primary factors explaining the current tax situation in the United States. History

The past 100 years have presented broad patterns in American tax policy . (For more, see: What Is Fiscal Policy? ) During the 1920s, income tax rates were above 70 percent on the top earners. For the roughly fifty years following the Great Depression , between 1932 and 1981, income taxes on the most wealthy were typically above 60 percent. A wide […]