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A comment on Tax hike on California millionaires would create 54% tax rate. Parent comment

Re:Tax hike on California millionaires would create 54% tax ... by paulryanrogers on Friday July 31, 2020 @02:49PM (#24012292)
Could it be because some loopholes hiding or deducting funds became less lucrative?
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Re:Tax hike on California millionaires would create 54% tax ... by bhupy on Friday July 31, 2020 @02:54PM (#24012391)
No, it's because GDP increased (by a lot). Federal tax receipts as a percentage of GDP has been basically flat since WW2:

https://fred.stlouisfed.org/series/FYFRGDA188S

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