During the 1940s, 1950s, and 1960s, tax rates were much higher, specifically on the wealthiest Americans. This was also a period of economic stability, security, and growth. The more progressive tax code was only one of a number of factors that contributed to sustained high growth with consistently low inflation and unemployment. Energy and resource prices were much lower during this period, and the rest of the world was much less advanced and able to compete. We don't control those factors, but we do control American tax and economic policy.



