Wealth Gap Julia Ott Associate Professor in the History of - - PowerPoint PPT Presentation
Tax Preference as Racial Privilege: Historical Perspective on the Racial Wealth Gap Julia Ott Associate Professor in the History of Capitalism co-Founder, Heilbroner Center for Capitalism Studies The New School Top Federal Income Tax Rates
10 20 30 40 50 60 70 80 90 100
Top Regular Rates on Wages & Other Earned Income Maximum Tax Rate on Capital Gains Effective Rate on Capital Gains 2
Source: Citizens for Tax Justice, “Top Federal Income Tax Rates Since 1913” (November 2011) http://www.ctj.org/pdf/regcg.pdf; Tax Policy Center
Percentage
2
Source: CBO
Source: CBO
5 10 15 20 25 1913 1918 1923 1928 1933 1938 1943 1948 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008
Capital Gains Fully Excluded Capital Gains Fully Included
Source: Thomas Piketty and Emanuel Saez, “Income Inequality in the United States, 1913-2011” http://elsa.berkeley.edu/~saez/
Percentage
5
Source: Leonard Burman, “Tax Reform and Tax Treatment of Capital Gains” (September 20, 2012)
“ ” ’ – – ’
2 4 6 8 10 5 10 15 20 25 30 35 40 45 1950 1960 1970 1980 1990 2000 2010 Year
Maximum Capital Gains Tax Rate (left axis) % Change in Real GDP (right axis)
Correlation = 0.12
Ben Shahn, 1946
Larry Gonick and Steve Atlas, 1977
Larry Gonick and Steve Atlas, 1977
Larry Gonick and Steve Atlas, 1977
Larry Gonick and Steve Atlas, 1977
Larry Gonick and Steve Atlas, 1977
Larry Gonick and Steve Atlas, 1977