--- title: "Meaning & Key Takeaway of: But the 1970s kicked off a…" description: "\"“But the 1970s kicked off a three-decade-long “tax-cutting spree” during which the wealthiest 1 percent succeeded in getting their average effective fe..." image: "https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png" --- # But the 1970s kicked off a three-decade-long “tax-cutting… ![“But the 1970s kicked off a three-decade-long “tax-cutting spree” during which the wealthiest 1 percent succeeded in getting their average effective federal tax rate slashed by a third, and the very, very richest, the 0.01 percent of the population, did even better, getting its effective federal…” quote by Jane Mayer](https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png) [Download](https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png) [Open image](https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png) > ““But the 1970s kicked off a three-decade-long “tax-cutting spree” during which the wealthiest 1 percent succeeded in getting their average effective federal tax rate slashed by a third, and the very, very richest, the 0.01 percent of the population, did even better, getting its effective federal tax rate cut in half.”” [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The 1970s began a long period of tax cuts that disproportionately benefited the richest, especially the top 1% and the ultra‑rich 0.01%. **In simple terms:** Tax cuts favored the wealthy over decades. Key Takeaway Consider how tax policy shapes inequality. Themes tax policy inequality wealth concentration Mood critical analytical Type policy economic When to use this quote - policy analysis - public debate - legislative reform - tax planning - wealth management Key Concepts progressive taxation fiscal policy economic disparity Questions to Reflect On - How do tax cuts affect economic mobility? - What reforms could make taxation more equitable? A Different Perspective The impact on middle‑class tax burden is not addressed. ★ ★ ★ ★ ★ No ratings yet [Taxes](https://sms4smile.com/quotes/about/taxes/) ## Related quotes > [Common man is always benefited by a rate cut.](https://sms4smile.com/quotes/raghuram-rajan/common-man-is-always-benefited-by-a-rate-cut/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [I obviously did not volunteer to go to Afghanistan solely to protect the wealthiest 1 percent of Americans.](https://sms4smile.com/quotes/jason-kander/i-obviously-did-not-volunteer-to-go-to-afghanistan-solely-to-protect/) [Jason Kander](https://sms4smile.com/quotes/author/jason-kander/) > [We've gone through rounds of tax cutting and rounds of tax increases in modern U.S. history. We haven't really had a big igniting of…](https://sms4smile.com/quotes/austan-goolsbee/we-ve-gone-through-rounds-of-tax-cutting-and-rounds-of-tax-increases/) [Austan Goolsbee](https://sms4smile.com/quotes/author/austan-goolsbee/) > [Some of the huge tax breaks that we gave to the wealthiest 1 percent of the population in this country during the Bush era…](https://sms4smile.com/quotes/danny-k-davis/some-of-the-huge-tax-breaks-that-we-gave-to-the-wealthiest-1-percent/) [Danny K. Davis](https://sms4smile.com/quotes/author/danny-k-davis/) > [Most of the time in America, we're surrounded by oppressive inequality such that the wealthiest 1 percent collectively own substantially more than the bottom…](https://sms4smile.com/quotes/nicholas-kristof/most-of-the-time-in-america-we-re-surrounded-by-oppressive-inequality/) [Nicholas Kristof](https://sms4smile.com/quotes/author/nicholas-kristof/) > [I believe health care is a right, not a privilege, not something only the wealthiest 1 percent can afford it should have.](https://sms4smile.com/quotes/amy-mcgrath/i-believe-health-care-is-a-right-not-a-privilege-not-something-only/) [Amy McGrath](https://sms4smile.com/quotes/author/amy-mcgrath/) > [The Conservative Party is a tax cutting party or it is nothing.](https://sms4smile.com/quotes/john-redwood/the-conservative-party-is-a-tax-cutting-party-or-it-is-nothing/) [John Redwood](https://sms4smile.com/quotes/author/john-redwood/) > [Keep your tax-cutting, greedy hands off our medicare](https://sms4smile.com/quotes/edward-kennedy/keep-your-tax-cutting-greedy-hands-off-our-medicare/) [Edward Kennedy](https://sms4smile.com/quotes/author/edward-kennedy/) > [Nothing could be further from the truth than the claim that we have a choice between cutting tax and cutting unemployment, for the two…](https://sms4smile.com/quotes/nigel-lawson/nothing-could-be-further-from-the-truth-than-the-claim-that-we-have-a/) [Nigel Lawson](https://sms4smile.com/quotes/author/nigel-lawson/) > [What we do have is a gigantic matching tax-cutting program as a way of stimulating the economy.](https://sms4smile.com/quotes/judy-woodruff/what-we-do-have-is-a-gigantic-matching-tax-cutting-program-as-a-way/) [Judy Woodruff](https://sms4smile.com/quotes/author/judy-woodruff/) > [There are a lot of misconceptions regarding the Bush tax cuts, all of them deliberately propagated by none other than President Obama and his…](https://sms4smile.com/quotes/steven-crowder/there-are-a-lot-of-misconceptions-regarding-the-bush-tax-cuts-all-of/) [Steven Crowder](https://sms4smile.com/quotes/author/steven-crowder/) > [In 1985, the top five percent of the households - the wealthiest five percent - had net worth of $8 trillion - which is…](https://sms4smile.com/quotes/david-stockman/in-1985-the-top-five-percent-of-the-households-the-wealthiest-five/) [David Stockman](https://sms4smile.com/quotes/author/david-stockman/) > [If the goal of the Trump tax cut is to make America look more like tax-cutting North Carolina and less like soak-the-rich Connecticut and…](https://sms4smile.com/quotes/stephen-moore/if-the-goal-of-the-trump-tax-cut-is-to-make-america-look-more-like/) [Stephen Moore](https://sms4smile.com/quotes/author/stephen-moore/) > [“Amway in fact was structured to avoid federal taxes.”](https://sms4smile.com/quotes/jane-mayer/amway-in-fact-was-structured-to-avoid-federal-taxes/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [As someone who came to New York in the 1970s, I was, like so many of my friends, a certified member of what we…](https://sms4smile.com/quotes/graydon-carter/as-someone-who-came-to-new-york-in-the-1970s-i-was-like-so-many-of-my/) [Graydon Carter](https://sms4smile.com/quotes/author/graydon-carter/) ## More by Jane Mayer > [“David Brock, a conservative apostate who became a liberal activist, described the Heritage Foundation, where he was a young fellow, as almost completely under…](https://sms4smile.com/quotes/jane-mayer/david-brock-a-conservative-apostate-who-became-a-liberal-activist/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“The early think tank was not a spy operation, but it was funded by wealthy men who had no objections to using pretexts and…](https://sms4smile.com/quotes/jane-mayer/the-early-think-tank-was-not-a-spy-operation-but-it-was-funded-by/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“Americans for Prosperity annoyed some of the Tea Partiers,” recalls the libertarian blogger Ralph Benko. “These people drove up, opened the door, put T-shirts…](https://sms4smile.com/quotes/jane-mayer/americans-for-prosperity-annoyed-some-of-the-tea-partiers-recalls-the/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“When Barack Obama took office, the fossil fuel industry was not only eager to preserve its perks but also more militant in its opposition…](https://sms4smile.com/quotes/jane-mayer/when-barack-obama-took-office-the-fossil-fuel-industry-was-not-only/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [If you have an informed electorate, it makes great choices.](https://sms4smile.com/quotes/jane-mayer/if-you-have-an-informed-electorate-it-makes-great-choices/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [ One of the oddities of this election is the man that \[Donald\] Trump chose as his vice-president, Mike Pence, is one of the Kochs'… ](https://sms4smile.com/quotes/jane-mayer/one-of-the-oddities-of-this-election-is-the-man-that-donald-trump/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“The candidates promised to cut taxes for those in the highest brackets, preserve Wall Street loopholes, tolerate the off-shoring of manufacturing jobs and profits,…](https://sms4smile.com/quotes/jane-mayer/the-candidates-promised-to-cut-taxes-for-those-in-the-highest/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“Amway in fact was structured to avoid federal taxes.”](https://sms4smile.com/quotes/jane-mayer/amway-in-fact-was-structured-to-avoid-federal-taxes/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“radicals in Congress refused to back down, bringing virtually the entire federal government to a halt for sixteen days in October, leaving the country…](https://sms4smile.com/quotes/jane-mayer/radicals-in-congress-refused-to-back-down-bringing-virtually-the/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [What I write about is how much influence it's had in things like state legislatures and governorships and congressional races. 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They successfully…](https://sms4smile.com/quotes/jane-mayer/two-months-into-their-tenure-republicans-on-the-house-energy-and/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [ \[The Kochs\] they hate big government. ](https://sms4smile.com/quotes/jane-mayer/the-kochs-they-hate-big-government/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“Rob Reich, a professor of political science at Stanford University and co-director of the Stanford Center for Philanthropy and Civil Society, explains that private…](https://sms4smile.com/quotes/jane-mayer/rob-reich-a-professor-of-political-science-at-stanford-university-and/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“During the previous eight years of Republican rule, this conservative corporate elite had consolidated its power, amassing enormous sway over the U.S. government’s regulatory…](https://sms4smile.com/quotes/jane-mayer/during-the-previous-eight-years-of-republican-rule-this-conservative/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) > [“Noble again chose Larry McCarthy, the veteran media consultant who was known for his ability to distill a complicated subject into a simple, potent,…](https://sms4smile.com/quotes/jane-mayer/noble-again-chose-larry-mccarthy-the-veteran-media-consultant-who-was/) [Jane Mayer](https://sms4smile.com/quotes/author/jane-mayer/) [Explore all 305 Jane Mayer quotes ](https://sms4smile.com/quotes/author/jane-mayer/) ## More 1970s quotes > [As someone who came to New York in the 1970s, I was, like so many of my friends, a certified member of what we…](https://sms4smile.com/quotes/graydon-carter/as-someone-who-came-to-new-york-in-the-1970s-i-was-like-so-many-of-my/) [Graydon Carter](https://sms4smile.com/quotes/author/graydon-carter/) > [The 1970s, the decade of my teenage years, was a transitional period in American youth culture.](https://sms4smile.com/quotes/eric-allin-cornell/the-1970s-the-decade-of-my-teenage-years-was-a-transitional-period-in/) [Eric Allin Cornell](https://sms4smile.com/quotes/author/eric-allin-cornell/) > [Back in the 1970s, it was mostly all-black audiences coming into the theaters. So, we presented stories they could relate to.](https://sms4smile.com/quotes/rudy-ray-moore/back-in-the-1970s-it-was-mostly-all-black-audiences-coming-into-the/) [Rudy Ray Moore](https://sms4smile.com/quotes/author/rudy-ray-moore/) > [I'm a product of the 1970s.](https://sms4smile.com/quotes/steve-rushin/i-m-a-product-of-the-1970s/) [Steve Rushin](https://sms4smile.com/quotes/author/steve-rushin/) > [Once, bit-fetching was the job mainly of children. In the 1970s, if I sat too long looking bored, I'd be dispatched to the shop…](https://sms4smile.com/quotes/grace-dent/once-bit-fetching-was-the-job-mainly-of-children-in-the-1970s-if-i/) [Grace Dent](https://sms4smile.com/quotes/author/grace-dent/) > [When I joined Ford, in the late 1970s, I felt strongly we could not forever be a huge user of natural resources without there…](https://sms4smile.com/quotes/anonymous/when-i-joined-ford-in-the-late-1970s-i-felt-strongly-we-could-not/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Wings was one of the first bands in the 1970s to do stadium tours, as well as Led Zeppelin. We had all the most…](https://sms4smile.com/quotes/denny-laine/wings-was-one-of-the-first-bands-in-the-1970s-to-do-stadium-tours-as/) [Denny Laine](https://sms4smile.com/quotes/author/denny-laine/) > [The whole idea of making 'James' was to make an action film in the style of the 1970s and '80s.](https://sms4smile.com/quotes/ram-gopal-varma/the-whole-idea-of-making-james-was-to-make-an-action-film-in-the/) [Ram Gopal Varma](https://sms4smile.com/quotes/author/ram-gopal-varma/) > [All I know about 1970s New York City is that it's where I grew up, and you always have an umbilical connection to the…](https://sms4smile.com/quotes/luc-sante/all-i-know-about-1970s-new-york-city-is-that-it-s-where-i-grew-up-and/) [Luc Sante](https://sms4smile.com/quotes/author/luc-sante/) > [I have lived my whole life just outside Youngstown, Ohio. We watched the steel mills close and 50,000 jobs disappear in the late 1970s.…](https://sms4smile.com/quotes/tim-ryan/i-have-lived-my-whole-life-just-outside-youngstown-ohio-we-watched/) [Tim Ryan](https://sms4smile.com/quotes/author/tim-ryan/) > [When I was growing up in the projects in Philadelphia in the 1970s and 80s, Cadillac was the car to have. But I always…](https://sms4smile.com/quotes/dawn-staley/when-i-was-growing-up-in-the-projects-in-philadelphia-in-the-1970s/) [Dawn Staley](https://sms4smile.com/quotes/author/dawn-staley/) > [I don't really have a treasured possession, but I do love my family's proper old photo album. We all have hundreds of photos on…](https://sms4smile.com/quotes/nicola-walker/i-don-t-really-have-a-treasured-possession-but-i-do-love-my-family-s/) [Nicola Walker](https://sms4smile.com/quotes/author/nicola-walker/) > [My family had been involved in gangs since the 1970s.](https://sms4smile.com/quotes/richard-cabral/my-family-had-been-involved-in-gangs-since-the-1970s/) [Richard Cabral](https://sms4smile.com/quotes/author/richard-cabral/) > [When I was in high school in the early 1970s, we knew we were running out of oil; we knew that easy sources were…](https://sms4smile.com/quotes/carl-safina/when-i-was-in-high-school-in-the-early-1970s-we-knew-we-were-running/) [Carl Safina](https://sms4smile.com/quotes/author/carl-safina/) > [When I was younger, I remember families like mine who had to deal with the disastrous policies of the 1970s.](https://sms4smile.com/quotes/andrew-scheer/when-i-was-younger-i-remember-families-like-mine-who-had-to-deal-with/) [Andrew Scheer](https://sms4smile.com/quotes/author/andrew-scheer/) Browse all 189 1970s quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“But the 1970s kicked off a three-decade-long “tax-cutting spree” during which the wealthiest 1 percent succeeded in getting their average effective federal tax rate slashed by a third, and the very, very richest, the 0.01 percent of the population, did even better, getting its effective federal tax rate cut in half.”", "creator": { "@type": "Person", "name": "Jane Mayer" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/jane-mayer/but-the-1970s-kicked-off-a-three-decade-long-tax-cutting-spree-during/", "about": { "@type": "Thing", "name": "1970s" }, "@id": "https://sms4smile.com/quotes/jane-mayer/but-the-1970s-kicked-off-a-three-decade-long-tax-cutting-spree-during/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png", "contentUrl": "https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png", "url": "https://sms4smile.com/quotes/i/47e/jane-mayer-1031_1970s_but-the-1970s-kicked-off-a-three-decade_692286.png", "width": 1080, "height": 1080, "caption": "“But the 1970s kicked off a three-decade-long “tax-cutting spree” during which the wealthiest 1 percent…” — Jane Mayer", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Jane Mayer", "item": "https://sms4smile.com/quotes/author/jane-mayer/" }, { "@type": "ListItem", "position": 4, "name": "“But the 1970s kicked off a...", "item": "https://sms4smile.com/quotes/jane-mayer/but-the-1970s-kicked-off-a-three-decade-long-tax-cutting-spree-during/" } ], "@id": "https://sms4smile.com/quotes/jane-mayer/but-the-1970s-kicked-off-a-three-decade-long-tax-cutting-spree-during/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```