He Who Laffers Last ...

Another great post and graph from Dr. Mark Perry.

CARPE DIEM: Tax Rates and Share of Tax Revenues from Top 1%: "The chart above shows the relationship over time (from 1979 to 2007) between: a) the top marginal income tax rate, and b) the share of total income taxes paid by the top 1% (data). In 1979 the top marginal income tax rate was 70% and 18.3% of the total taxes paid were collected from the top 1% of taxpayers. By 2007 the top tax rate was 35% (half of the 1979 rate), and the tax share of the top 1% had more than doubled to 39.5% (from 18.3% in 1979). The historical record shows an inverse relationship between the highest marginal income tax rate and the share of taxes collected from 'the wealthy.' It's a relationship to keep in mind during the current tax policy debate, where Obama wants to increase tax revenues by raising tax rates for 'the rich,' ..."

Additional links:
Where Did Oregon's Millionaires Go?
You Can't Soak the Rich or Laffer Revisited
Arthur Laffer Laughs Last - Florida Boating
Laffer - New Evidence on Taxes and Income
Michigan, Meet Arthur Laffer ...
Arthur Laffer on the 'Stimulus' Package