Wait, did Bernie Sanders win the election?

Source: EconLog
by Scott Sumner

“Let’s go back a couple years to see just how radically this country has changed. Jeb Bush is running for president, proposing a tax reform with a top marginal tax rate (MTR) of 28%. Marco Rubio is proposing a top rate of 35%, and that’s viewed as being pretty mean to the rich …. even the bipartisan Bowles-Simpson budget reform plan called for a much lower top rate. The eventual GOP nominee (Trump) called for a top rate of 25%, far below the 43.4% top rate enacted by President Obama. After winning all the branches of government, you’d sort of expect the GOP to propose at least a token reduction in the top rate. Now the Wall Street Journal reports that the GOP plans to raise the top federal income tax rate to 49.4% …” (11/04/17)