Detailed text transcripts for TV channel - MSNBC - 20190108:18:58:00
Highest level was less than half that. in 1980, when ronald reagan was elected president, the top tax rate was 70% at that time. if you look at the average tax rate that the top 1% was paying at that time, it was only 35%. today with the top tax rate at 37%, the average tax rate for the top 1% is about 27%. so when you actually look at what people are paying, it is not that big brother is taking away most of anybody's income. it's taking away most of those last dollars of income, and that's a value judgment. how high should it be? that's what politicians and political campaigns and elections a...