Taxes and Justice

In 1944, when people actually paid for their wars, the top U.S. tax rate was 94% on taxable income over $200,000 ($2.5 million in today’s dollars). In the 1950s up until 1965, the top marginal rate was 91%. During Nixon’s terms and the first two years of Reagan’s first term, the top rate was 70%, then it dropped to 50%, and finally 28%. During George H.W. Bush’s time as President, the top rate stayed at 28%, but under Bill Clinton, it went back up to 39.6%, then under…

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Stephen P. Watkins

Stephen P. Watkins

Top Writer in Politics. Author of “The ‘Plenty’ Book — the Answer to the Question: What Can I do to Make This a Better World?,” available on Amazon.com