Does the Democratic Party need to return to a platform of .....?

[ProfessorGAC]

19. Just A Caution

Tax rate brackets in the 50s were, as you stated, more progressive with more tiers and a higher ceiling.
But, deductibility & loopholes for high income people were so prevalent that almost nobody paid the aggregated rate the brackets would suggest.
Less than 3% of such earners.
When JFK lowered the max rate to 50%, there was actually little negative impact because so many loopholes for rich people were closed. (Not all, after all his dad was loaded.)
The effective tax rate on people making 6 figures or more actually went up, even with the ceiling lowered 40% absolute.
I do like the idea of expanding brackets greatly. This "simplification of the tax code" is PR, with no economic benefit to anybody. Most 1040 filers can do it in 25 minutes instead of 45. Bid deal! That 20 minutes a year is what real benefit?
And, the brackets need to reach higher! Agreed totally on that, too!
But, I don't think the numbers from the 50s, within the greater context, is an apt comparison.