Soaking the rich doesn’t work

[whell]

Originally Posted by Tom Joad

Americans making over $250,000 in 1944 — over $3.2 million today — paid 69 percent of their total incomes in federal income taxes, after exploiting every loophole they could find. In 2007, by contrast, America’s 400 highest earners paid just 18.1 percent of their total incomes, after loopholes, in federal taxes.


read more here.

Hmmm...wasn't there a World War going on in 1944 that we were trying to finance our participation in? Not that a little thing like that would make any difference in tax policy and revenue collections....