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Originally Posted by saden1
Taxes were reduced in the early 60's (top rate went from 91% to 70%) and poverty was reduced by ~100% (from Information I provided...thanks for the heads-up  ). |
No. Poverty was decreased by approximately 50% per your numbers. (A reduction from 20% to 10% is only reduces the amount by half its original amount not the full amount- Math not your strong suit?). Further, the number has fluctated between a 25% to 50% percent reduction over the last 40 years. A significant decrease but, given the expansion of governmental expenses on social services, why hasn't poverty furthered decreased to reflect these increased expenses?
Also, although the top tax bracket was indeed reduced, due to a failure to adjust for inflation, the actual number of individuals subject to the highest brackets increased. Regardless, the relationship between marginal tax brackets and actual income collected is whole other argument.