4 ms·
There was equality but not mandatory equality. There is an important difference.
by randyrand 11y ago
There was equality but not mandatory equality. There is an important difference.
- Mikeb85 11y agoNot actually true. Tax rates on high incomes were much, much higher in the 1950s and 1960s. http://www.businessinsider.com/history-of-tax-rates-2012-5 http://www.businessinsider.com/history-of-tax-rates-2012-5 http://s158.photobucket.com/user/OnlyObvious/media/Tax_Rates/TopTaxBracket_TaxRate.jpg.html http://s158.photobucket.com/user/OnlyObvious/media/Tax_Rates...
- gozur88 11y agoThat seems more relevant than it is. The US tax code used to be riddled with loopholes - nobody actually paid the top rates.
- Mikeb85 11y agoThe effective tax rates back then were still higher than today. You're right, they weren't 92%, but they were higher.
- gozur88 11y agoI wonder if that's actually true. It was far, far easier to hide income back then. This is before currency transaction reporting and "currency smuggling" laws. You could get on a flight to Zurich with a duffel bag full of cash and it wasn't something anyone had to report to the government.
- MaysonL 11y agoused to be?
- gozur88 11y agoYes. Prior to 1986 it seemed like everyone you knew had a money-losing chinchilla farm or something they could write off. If you tried to do that today the IRS would laugh at you.