When those paid to be well-informed are uninformed, small wonder mischaracterizations of conservative ideas pervade public discourse.
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Never has a major marginal income tax rate reduction over the last 100 years slashed tax burdens for merely “the rich.” Every major tax cut—whether during the 1920s, the 1960s, the 1980s, the 2000s, or most recently under President Trump—has benefited all income groups. Furthermore, these cuts have made the tax code more progressive. Following the tax cuts of the ‘20s, for instance, historian John Steele Gordon writes:The distribution of the tax burden became radically more progressive, not less. In 1921 those earning less than $10,000 had paid $155 million in taxes, 21 percent of person income tax revenues. In 1926 they paid only $33 million, or 5 percent. Mellon himself boasted in 1928 that a bachelor with a $4,000 income in 1920—enough to make him comfortably middle class—would have paid $120 in tax that year, but in 1928 would owe only $5.63.
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