>The top federal income tax rate was 91 percent in 1950 and 1951, and between 1954 and 1959. In 1952 and 1953, the top federal income tax rate was 92 percent. (USA)
>We need to go back to this.
There were so many deductions and tax breaks back then that, to a first approximation, no one paid anywhere close to that. The Tax Reform Act of 1986 removed most of those deductions as part of the collapsing of tax brackets.
>We need to go back to this.
There were so many deductions and tax breaks back then that, to a first approximation, no one paid anywhere close to that. The Tax Reform Act of 1986 removed most of those deductions as part of the collapsing of tax brackets.