Sheldon D. Pollack (University of Delaware, Lerner College of Business) has published Revenge of the 80th Congress, 129 Tax Notes 819 (Nov. 15, 2010):

Prof. Pollack puts the debate over the expiring Bush tax cuts in a broader historical context. The current battle over marginal income tax rates is the continuation of a long war that started after World War II, when the maximum income tax rate reached a historic 94%. With the rise of the Cold War and continued expansion of the American administrative state, tax rates never returned to prewar levels. According to the author, the ongoing struggle over marginal rates reflects the absence of political agreement on both a peacetime rate structure and level of government spending acceptable to majorities in the two major political parties. No compromise is in sight, so expect the war to continue regardless of the outcome of the midterm elections in November.

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