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From: garys@bunker.UUCP (Gary M. Samuelson)
Newsgroups: net.politics,net.politics.theory
Subject: Re: Soaking the Rich
Message-ID: <761@bunker.UUCP>
Date: Mon, 25-Mar-85 10:14:29 EST
Article-I.D.: bunker.761
Posted: Mon Mar 25 10:14:29 1985
Date-Received: Thu, 28-Mar-85 00:09:28 EST
References: <1982@burdvax.UUCP>
Organization: Bunker Ramo, Trumbull Ct
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Xref: watmath net.politics:8242 net.politics.theory:477

Courtesy of Tom Albrecht:
> 
> Well, the latest statistics are in and it doesn't look good for those 
> who pooh-poohed the supply-side theory.

> These numbers show that
> the tax cut did just what the President said it would; it generated
> additional revenue by stimulating investment and entrepreneurial income.

First, I wonder how much of the differnce is due to changes in
the  number of people in each income class (I also wonder if
it matters; comments?).

Second, the extra line for "over 1,000k" is an unnecessary
source of confusion (at least it was for me); those figures
were already given in the "over 100k" line.

Third, the total taxes received shows a DROP in revenue, not
an increase.

Fourth, there are a couple of mistakes in the percentages
(noted below).

> The numbers reported by the IRS are:
> 
>		     Taxes paid         % total taxes paid
> Income class#	 1981	 1982	 1983	1981	1982	1983
> $0-15,000	26,571	23,949	21,037	 9.1%	 8.4%	 7.4%
> $15k-30k	80,475	74,196	67,000	27.6	26.0	23.6
> $30k-50k	88,322	86,363	84,736	30.3	30.2	29.9**
> $50k-$100k	52,156	51,732	55,179	17.9	18.1	19.4
> over $100k	43,633	49,387	55,781	15.0*	17.3	19.7***
               ------- ------- -------  ----   -----   -----
               291,157 285,627 283,733  99.9   100.0   100.0

*Originally listed as 10.0
**Originally listed as 29.8
***Originally listed as 19.6

Gary Samuelson
ittvax!bunker!garys