ANOTHER SHAMMITY FACT

(A Shammity fact is something like a FOX NEWS Democrat)

Today, Sean claimed that the top income tax rate when Raygun came into office was 90%. As usual, the facts are otherwise. In 1981, the top rate was 69.125%, assessed on income greater than $215,400. During the next 5 years, the top rate was 50% but the income level increased from $85,600 to $175,250. In 1988, the last year of Raygun's presidency, the top rate was reduced to 28% and began on income over $29,750.


In comparison, during the first two years of Clinton's presidency, the top rate was 31%. Subsequently, the top rate was 39.6% and the income levels rose from $250,000 to $288,350. During the Clinton Administration, almost 21 million new private sector jobs were created. Even if we combine the Raygun and Bush I years, the total is a bit less than 16 million.