Very interesting chart from Catherine Mulbrandon shows us how the income tax went from being a marginal to a mass phenomenon:
Income tax has a certain logic as a wartime measure, especially given the super-full employment conditions that pertained at the time. Over the long term, however, I think people will come around to the future that a consumption tax with a progressive rate structure makes a lot more sense when we’re not amidst a total war.
Previous in TP Yglesias
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