Liberal Myth # 2 Debunked

The rich aren't paying enough taxes.  The reason that we have huge deficits is that the tax rate on the wealthy is not high enough.

As you can see from the chart to the left, Tax receipts as a % of GDP have not varied more than 4% in almost 70 years.  This despite the fact that the top marginal rate on Income has varied from 35% to 90%.    For the years 2002 - 2007 (under those evil George Bush Tax Cuts) you can see that the % of GDP collected in income taxes actually ROSE.

Artithmatic is a tricky bitch isn't she?