THE TOP THEORETICAL TAX RATE REALY 70% OR IS IT REALLY 50%? This article discuss

http://www.nationalreview.com/agenda/300373/guest-post-arpit-gupta-saez-and-diamond-taxes-arpit-guptaIS THE TOP THEORETICAL TAX RATE REALY 70% OR IS IT REALLY 50%?

This article discusses top tax rates in tolerably accessible terms.

I’ll buy that it’s 48%, depending upon where it’s graduated. But as I’ve stated repeatedly, it has to be constructed on a rolling average of income, not that of a single year, which penalizes the middle class for rare events that pay for their retirements. Otherwise there is no 1% (or the more accurate .017%) because something close to 30% of people end up in that high tax bracket at some time in their lives, and that’s too big a block to alienate through aggressive taxation that threatens their retirement savings that come from almost entirely from rare events.