• "Well written, well researched, and the thesis put forth is well argued.... Woods has opened up an area of historical analysis that should invite further study."
    -Journal of American History

  • "During these times that challenge our freedoms there is no one more qualified to make U.S. history relevant to the fight against big government than Thomas Woods."
    -Barry Goldwater Jr.
    Former Member of Congress

  • "I strongly recommend Woods's work."
    -The Honorable Ron Paul,
    U.S. House of Representatives

  • "Written with great clarity and fluency, making the complex philosophical and theological concepts approachable."
    -Journal of American Studies

  • "A must-read."
    -Barron's

  • "An excellent reading source for anyone interested in financial markets, and much more so for anyone interested in learning about capitalism without all the misinterpretations being thrown about in the financial media."
    -Asia Times

  • "Provocative, well-written, and deserves to be read."
    -Catholic Historical Review

  • "An engaging and important contribution to scholarship on the history of American Catholicism."
    -Journal of the Historical Society

  • "Woods and [co-author Kevin] Gutzman appeal to both left and right in this constitutionalist jeremiad…. The authors' exegeses of the Constitution and court decisions, heavy on original intent arguments, are lucid and telling."
    -Publishers Weekly

  • "A marvelous read. Every chapter taught me something new and unexpected."
    -Tom Bethell, senior editor,
    The American Spectator

  • "The hottest book today is Meltdown, by my friend Tom Woods."
    -Judge Andrew Napolitano, senior judicial analyst,
    FOX News Channel

  • "Should be required reading."
    -Economic Affairs (London)

  • "Woods, one of the best classical liberal [libertarian] scholars of his generation, has once more placed us in his debt with this lucid and tightly argued book."
    -David Gordon, The Mises Review

  • "Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy."
    -Peter Schiff

Still More on the 91% Tax Rate

Not long ago I posted several links (two of them to articles I myself wrote) refuting the “91% tax rates made this country awesome” argument that is making the rounds among the expropriators these days. Bob Wenzel now supplies yet more evidence. It turns out that the effective tax rate of the top 1% during the heyday of the 91% top marginal income tax rate was just over 30%.

Unlearn the Propaganda!

  • Anthony

    The more ammo on this the better… This is one of the issues I come across with the most. Logically, saying that the economy is better if a group of people get to steal more money from another group of people is pretty insane.

  • Anonymous

    Recently while listening to NeoCon chicken hawk radio a caller used this attack against the host (Sean “Israel uber alles” Hannity). I was screaming at the radio for the blockhead Hannity to mention that the effective tax rate was much lower and to point out that the weak relationship between top marginal tax rates and economic growth
    was undermined by other historical data and was only a correlation anyway, not
    a cause and effect process.

    Instead Hannity avoids the question and then sidetracks the issue with another question. He had nothing at all in the way of an answer! This is what stands between us and the left wing rabble, a pack of intellectually bankrupt, completely delusional Zionist
    warmongers. Politically, the Republicans are as dumb as a bag of rocks. This is why the Republican Party will soon be as irrelevant nationally as it is in Crazyfornia.

  • AlistairG

    In 1955 the top rate was 90% on incomes over $400,000–but that is approx $3.8 million in today’s money. It was a tiny portion of the population–less than 0.005% that earned $400,000 in those daysThe current proposal is to increase the rates on people over $250,000 in today’s money.

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