No, you do not get to simply recategorize earned income as unearned. And also at the time of these high rates there was no seperate capital gains tax. The incom

No, you do not get to simply recategorize earned income as unearned. And also at the time of these high rates there was no seperate capital gains tax. The income tax rate applied. What would not have applied is FICA tax, i.e. Social Security and Medicare, which is only assessed on earned income ( i.e. wages from a job).