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On the contrary, our country was stronger, our economy stronger and our income gap much, much smaller when our minimum wage had the highest spending power in history and the top tax rate was 70%. Of course there were more taxes being paid by corporations too and yet, the unemployment rate was what? 5%?
This top tax rate of 70% nonsense is pure nonsense. If it raised enormous sums of money, then tax receipts as a % of GDP would have been much higher than when rates were lower. They weren't. The trend line for tax receipts hovers around 18% of GDP.
Back when that rate was in effect, there were deductions and loopholes available which reduced actual effective tax rates.